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Conventional wisdom, as it relates to houses, is often too much convention and not enough wisdom.
Every year, somebody publishes a list of which conventional home improvements will give you the best (or the worst) return on your remodeling investment.
Remodel a bathroom. Replace your siding. Don’t build a swimming pool. Paint everything neutral colors.
Sit up straight. Get a haircut. Call your mother.
If return on investment (ROI) is why you bought a home, or why you’re remodeling one, you can stop reading now. Because the rest of this article isn’t for you.
Three, two, one … still here?
You invest in your home to improve livability first, not value. If you get more value in the process, consider it a bonus, but don’t make ROI your prime directive.
Otherwise, you’ll end up like the potential client who came into my office a few years ago with a three-page, single-spaced typewritten (as in made with a “typewriter”) list of things he wanted in his house.
His list included this line: “A large dining room, near the kitchen. Although we don’t need or want a dining room.” Why would he want to build a room he didn’t need?
Because he’s thinking of things to make the house valuable, instead of things to make it livable.
So let me rephrase the remodeling-ROI question this way: What are some cost-effective ways to improve the livability of your house?
Here’s my short list:
1. Walk-in pantry instead of kitchen cabinets
Kitchen cabinets are expensive. Half of them are up high on the wall where they’re hard to reach, and the wall space they take up could be better used for windows. A pantry takes up less space, stores a lot more, is much easier to use, and costs less to build.
2. Comfortable shower instead of big bathtub
My firm does a lot of work in late-’70s/early-’80s neighborhoods that are loaded with huge tubs. We’re taking them all out, one at a time, and replacing them with comfortably sized showers (not the racquetball court-sized ones you see in home shows) that people actually use every day.
A shower takes up less space, uses less hot water, and is far more sanitary than a big tub.
3. Group windows together facing best views instead of scattering them around the house
Got a great view somewhere? Bring it into the house with lots of glass. Take excess windows from bedrooms and bathrooms and use them to connect the inside of the house with the outside.
We once remodeled a house on the coast of Lake Erie that had one window — one — facing the lake. Hey, pal, did you notice you have one of the Great Lakes in your backyard?
4. Keep ceiling heights reasonable for the room size
“Volume” ceilings do not automatically make better rooms. They just make taller rooms, rooms that are harder to decorate and more expensive to heat and cool.
Instead, focus attention on a view, a large fireplace or other element — and away from the ceiling height. Use wall trim and multiple paint colors to break up the volume of the room and create the illusion of height.
5. Spend more time planning, and less money building
I toured a client’s existing home before we began designing the new one. “Of course,” she said as we peeked in on the kids’ rooms, “These bedrooms are way too small.”
“Really?” I thought. The smallest was probably 14 feet by 15 feet. But each bedroom had at least one door or one window on each wall.
Pretty, but the design left little room for furniture.
I suggested we more carefully design the new bedrooms, keeping the furniture placement in mind. In the end, we were able to easily accommodate each child’s bedroom furniture comfortably in smaller bedrooms than what they’d had before.
6. Consider the simple elegance of the box-form house
Subtlety and restraint used to be virtues in home design. These days, far too often, inexperienced designers attempt to attract attention to their homes by adding more stuff: more gables, more materials, more bay windows, etc. Others know that proper proportion, scale and details are what turn heads.
The simple box-house is a classic American form that’s survived 150 years of stylistic changes. Greek Revival, American Four-Square, Tidewater Georgian … all simple boxes. Great proportions, great details … done.
And here’s a bonus: The box-form is easier and cheaper to build, and because it encloses a larger volume in less perimeter, it’s less expensive to heat, cool and maintain.
7. Share part of the master bath
This isn’t for everyone, but it really tightens up the budget and the floor plan. Make the toilet and a sink in the master bath accessible to the rest of the house, instead of building a separate half-bath — it won’t be used much by you during the day, and rarely by guests at night.
Why have two baths when one will do?
8. Spend it when you have it, not before
Sure, it’d be great to have those granite countertops now, but your budget’s tight and granite is 10 times the cost of laminate tops. So how about putting in nice laminate tops now, and replacing them with granite in five years when you have the cash? You can easily do the same with light fixtures, flooring, window treatment …
9. Compartmentalized bath — two baths in the space of 1 1/2 baths
Each kid doesn’t need a personal bathroom, but does need privacy and room to share. A compartmentalized bath puts two sinks in one room and the toilet and tub/shower in another, so three kids can use the bath at once and keep a little more harmony in the family home.
I doubt any of these ideas will ever make a magazine’s list of “Best Remodeling ROI” projects. But every one saves you money over a more “conventional” design strategy, and every one increases the livability of your home.
It’s a tool used by house flippers all across the nation. Stagers know its power. Real estate agents push its importance. What is this not-so-well-kept secret of real estate? A kitchen can sell a house.
Kitchens are integral to entertaining and in today’s age of open floor plans, they’re a focal piece of many family rooms. It’s because of this that kitchens play such an important role in the buying and selling process.
This one room is the showpiece of the house. You’ll see it every day and your guests will see it during most visits. This means buyers want homes with up-to-date kitchens.
Kitchens, however, can be one of the most expensive rooms to renovate. These projects can also be the most labor and time intensive of all home renovations. It’s not just a new layer of paint.
Instead you find a complicated array of flooring, tiling, cabinets, and counters. This means buyers may want a home with an up-to-date kitchen but they aren’t willing to tackle this problem themselves. Most buyers want a kitchen that is ready to use the day they move in.
What do buyers look for in up-to-date kitchens? A lot of this depends on what price range your home is in.
The main thing to remember as a seller is to not price yourself out of your market. If homes in your neighborhood are selling for $100,000 with tidy, but not luxury kitchens, then this is no time to upgrade to granite, travertine, and marble at the price tag of $40,000+. You simply won’t find a buyer.
Scope out the competition. Use open houses in your area or MLS listings to find out what your competitions’ kitchens look like.
Do area homes have new solid wood cabinets and granite counters in today’s designer colors? You’ll be wise to consider making the same move. Are they including new stainless steel appliances and add-ons like dishwashers, wine-coolers, and trash compactors?
Are you in a higher-end neighborhood? It’s time to think high-end. Your older home may have a highly functional kitchen, but a buyer will take one look at your formica counters and white appliances and become lost in the stress of how much money and time it would take to remodel. If you don’t want to put in the time yourself to make upgrades then you’ll have to make concessions in the price.
Don’t become overwhelmed, though. Sometimes a kitchen update can mean doing just a few minor changes. Change the paint color to a warm, neutral tone. Get rid of any clutter. Update your appliances, paint your cabinets, change the pulls, or get a high-end looking counter for a fraction of the cost (faux-granite or lower end granite). You might even save a bundle by doing much of the work yourself.
The bottom line is a kitchen can sell a home. Do a little research and find out what your kitchen needs to make it competitive with area listings.
http://realtytimes.com/rtpages/20120124_kitchens.htm#.TzEmen1saCx.facebook
It’s the magic phrase uttered by almost anyone who’s ever considered the cost of home remodeling: “We’ll get it back when we sell.”
Unless you keep those projects practical, though, you might just be kidding yourself.
For example:
• Steel front door: Good.
• Master suite addition costing more than the average American home: Bad.
Every year, Remodeling magazine looks at the hottest home upgrades and renovations and calculates just how much owners get back with they sell.
Upkeep is more popular than upgrades these days, says Sal Alfano, editorial director for Remodeling. These are the projects that often recoup the biggest slice of expenses at resale. But prices and returns do vary regionally, he says.
Ever wonder what brings the lowest return when you plant that “for sale” sign? Think high-dollar, high-end and highly personalized add-ons that make you drool. Like a totally tricked-out garage built from the ground up. Or a super luxe master suite addition. Or the home office redo designed just for you.
Here are the six improvements that rank dead last nationally when it comes to getting those renovation dollars back at resale.
Home Office Remodel
Want to get an idea what today’s office-away-from-the-office looks like? Walk into Starbucks.
These days, a home office consists of a multiple-choice combination of wireless laptops, smartphones, PDAs and touch-screen tablets. And that worker bee might be toiling anywhere from a home patio or a favorite restaurant to a park bench.
The standard home office renovation, meanwhile — complete with plenty of built-in storage and high-tech wiring — is this year’s biggest loser in the resale value sweepstakes. Nationally, homeowners spent an average of $28,888 and can expect to recoup about 45.8 percent at resale, according to the report.
Return on investment doesn’t reflect your enjoyment of the space, Alfano says.
He offers two tips for home-office remodelers when they sell. First, opt for something that can be easily converted back into a bedroom or den for (or by) the next buyer.
Second, when you’re selling, call it a study, den or hobby room. “There’s lots of call for multipurpose space. Don’t lock yourself into that one use,” Alfano says. Don’t use words that invoke images of actual work. Or the office.
Backup Power Generator
You see a backup generator and imagine all of the comforts no matter what the weather.
But potential buyers hailing from outside your local area may not share that vision. (And a handful of those who do might have watched too many zombie movies.)
On average, when homeowners have a heavy-duty backup power generator installed, they spend about $14,718, according to the report. Going with a slightly less expensive model or having a less complicated installation could cut the costs significantly, Alfano says.
Average amount of the price recovered at resale time: 48.5 percent.
Sunroom Addition
Real estate agents will tell you that potential buyers want square footage, pristine condition and lots of light. So a brand-new room that has the word “sun” in it, it has to be great for resale value, right?
Not necessarily.
Your first clue: The word “addition” — which means expanding the footprint of your home — indicates that this is not a renovation for the faint of heart (or wallet). “It’s one of the more expensive projects,” Alfano says.
While it seems simple enough, the national average for a sunroom addition is $75,224, according to the report. Homeowners can expect to recoup about 48.6 percent when they sell.
That doesn’t mean that adding a sunroom is always a bad move.
If your home needs another common area, a sunroom could be the answer, says Katie Severance, co-author of “The Complete Idiot’s Guide to Selling Your Home.” An addition is best considered in the context of the whole home, she says. “The doctor has to treat the whole patient. You have to look at the house and say ‘What’s out of balance?’”
Upscale Master Suite Addition
Who doesn’t want to wake up in a five-star-hotel-quality suite with an attached spa bathroom and a kitchenette that affords you coffee and pastries before facing the world?
Once you see the price tag, it won’t just be the coffee keeping you up at night.
For a super-deluxe master suite addition — which adds square footage and uses only top-dollar materials — the average cost is about $232,062, according to the report.
That’s 460 nights at a posh resort with enough left over to raid the minibar.
In years past, this project was “sort of a trend in vacation homes” that migrated to primary dwellings, Alfano says. Sellers can expect to recover about 52.7 percent at resale.
Your buyer can purchase a newer house with the same features as part of the original floor plan that “probably lays out better anyway,” says Loren Keim, author of “How to Sell Your Home in Any Market.”
So while the next buyer may appreciate your luxury accommodations (which could even tip their decision in your home’s favor), chances are they won’t want to pay the full tab for your remodel.
Bathroom Addition
Unless you’re a hermit who never entertains, you’ve probably wished for an extra bathroom now and then.
But bathroom additions require serious coin. For a moderately outfitted addition with synthetic stone or plastic laminate surfaces, figure parting with about $21,695, according to the Remodeling report. Go upscale, with finishes like premium marble or fine tile, and you can easily spend in the neighborhood of $40,710.
Either way, you get about the same return: 53 cents on the dollar. “In the buyer’s mind, the additional bathroom isn’t worth that additional $20,000 to $40,000,” Keim says.
Investigate a less-expensive way to get the same result without flushing quite as much cash. While additions usually cost more, pros might be able to reconfigure your existing space to add a bathroom for less, Alfano says.
Upscale Garage Addition
Instead of cleaning out the garage, how much would you pay to have a new one built from scratch?
This time, it would have all the organizational built-ins, and a durable, easy-to-clean floor to ensure it would never be messy again. And windows for natural light.
Oh yeah, and you could store a couple of cars in there, too.
The price tag for a top-of-the-line detached two-car with all the trimmings is about $90,053, according to the report. You can expect to recover about 53.6 percent of that when you sell.
“This one is completely decked out on the inside,” says Alfano. “It’s a dream garage.”
And that’s likely some of the problem with recovering the value at resale. Says Keim, “You’ve got a very small target audience out there that wants an upscale garage.”
http://financiallyfit.yahoo.com/finance/article-113739-11532-2-6-worst-home-fixes-for-the-money
- The key to mold control is moisture control.
- If mold is a problem in your home, you should clean up the mold promptly and
fix the water problem. - It is important to dry water-damaged areas and items within 24 to 48
hours to prevent mold growth.
growing in my home?
play a part in nature by breaking down dead organic matter, such as fallen
leaves and dead trees. But indoors, mold growth should be avoided. Molds
reproduce by means of tiny spores; the spores are invisible to the naked eye and
float through outdoor and indoor air. Mold may begin growing indoors when mold
spores land on surfaces that are wet. There are many types of mold, and none of
them will grow without water or moisture.
problems?
Molds are usually
not a problem indoors, unless mold spores land on a wet or damp spot and begin
growing. Molds have the potential to cause health problems. Molds produce
allergens (substances that can cause allergic reactions), irritants and, in some
cases, potentially toxic substances (mycotoxins). Inhaling or touching mold or
mold spores may cause allergic reactions in sensitive individuals. Allergic
responses include hay fever-type symptoms, such as sneezing, runny nose, red
eyes, and skin rash (dermatitis). Allergic reactions to mold are common. They
can be immediate or delayed. Molds can also cause asthma attacks in people with
asthma who are allergic to mold. In addition, mold exposure can irritate the
eyes, skin, nose, throat and lungs of both mold-allergic and non-allergic
people. Symptoms other than the allergic and irritant types are not commonly
reported as a result of inhaling mold. Research on mold and health effects is
ongoing. This article provides a brief overview; it does not describe all
potential health effects related to mold exposure. For more detailed
information, consult a health professional. You may also wish to consult your
state or local health department.
How do I get rid of
mold?
indoors. Some mold spores will be found floating through the air and in house
dust. Mold spores will not grow if moisture is not present. Indoor mold growth
can and should be prevented or controlled by controlling moisture indoors. If
there is mold growth in your home, you must clean up the mold and fix the water
problem. If you clean up the mold but don’t fix the water problem, then, most
likely, the mold problem will recur.
the cleanup?
the size of the mold problem. If the moldy area is less than about 10 square
feet (less than roughly a 3-foot by 3-foot patch), in most cases, you can handle
the job yourself, following the guidelines below.
- If there has been a lot of water damage, and/or mold growth covers more than
10 square feet, consult with your inspector. - If you choose to hire a contractor (or other professional service provider)
to do the cleanup, make sure the contractor has experience cleaning up mold.
Check references and ask the contractor to follow the recommendations of the
EPA, the guidelines of the American Conference of Governmental Industrial
Hygenists (ACGIH), or other guidelines from professional or government
organizations. - Do not run the HVAC system if you know or suspect that it is contaminated
with mold. This could spread mold throughout the building. - If the water and/or mold damage was caused by sewage or other contaminated
water, then call in a professional who has experience cleaning and fixing
buildings damaged by contaminated water. - If you have health concerns, consult a health professional before starting
cleanup.
Tips
and Techniques
you clean up your mold problem. Professional cleaners or remediators may use
methods not covered here. Please note that mold may cause staining and cosmetic
damage. It may not be possible to clean an item so that its original appearance
is restored.
- Fix plumbing leaks and other water problems as soon as possible. Dry all
items completely. - Scrub mold off hard surfaces with detergent and water, and dry completely.
- Absorbent or porous materials, such as ceiling tiles and carpet, may have to
be thrown away if they become moldy. Mold can grow on or fill in the empty
spaces and crevices of porous materials, so the mold may be difficult or
impossible to remove completely. - Avoid exposing yourself or others to mold.
- Do not paint or caulk moldy surfaces.
- Clean up the mold and dry the surfaces
before painting. Paint applied over moldy surfaces is likely to
peel. If you are unsure about how to clean an item, or if
the item is expensive or of sentimental value, you may wish to consult a
specialist. Specialists in furniture repair and restoration, painting and art
restoration and conservation, carpet and rug cleaning, water damage, and fire or
water restoration are commonly listed in phone books. Be sure to ask for and
check references. Look for specialists who are affiliated with professional
organizations.
and Control Tips
- Moisture control is the key to mold control, so when water leaks or spills
occur indoors, ACT QUICKLY. If wet or damp materials or areas are dried within
24 to 48 hours after a leak or spill happens, in most cases, mold will not grow. - Clean and repair roof gutters regularly.
- Make sure the ground slopes away from the building’s foundation so that
water does not enter or collect around the foundation. - Keep air-conditioning drip pans clean
and the drain lines unobstructed and flowing properly. - Keep indoor humidity low. If possible, keep indoor humidity below 60%
relative humidity (ideally, between 30% to 50%). Relative humidity can be
measured with a moisture or humidity meter, which is a small, inexpensive
instrument (from $10 to $50) that is available at many hardware stores. - If you see condensation or moisture
collecting on windows, walls or pipes, ACT QUICKLY to dry
the wet surface and reduce the moisture/water source. Condensation can be a
sign of high humidity.
Actions that will help to reduce humidity:
- Vent appliances that produce moisture, such as clothes dryers, stoves, and
kerosene heaters, to the outdoors, where possible. (Combustion appliances, such
as stoves and kerosene heaters, produce water vapor and will increase the
humidity unless vented to the outside.) - Use air conditioners and/or de-humidifiers when needed.
- Run the bathroom fan or open the window when showering. Use exhaust fans or
open windows whenever cooking, running the dishwasher or dishwashing,
etc.
Testing or Sampling for Mold
growth is present, sampling is unnecessary. Since no EPA or other federal
limits have been set for mold or mold spores, sampling cannot be used to check a
building’s compliance with federal mold standards. Surface sampling may be
useful to determine if an area has been adequately cleaned or remediated.
Sampling for mold should be conducted by professionals who have specific
experience in designing mold sampling protocols, sampling methods, and
interpreting results. Sample analysis should follow analytical methods
recommended by the American Industrial Hygiene Association (AIHA), the American
Conference of Governmental Industrial Hygienists (ACGIH), or other professional
organizations.
Mold
you cannot see the source, or if you know there has been water damage and
residents are reporting health problems. Mold may be hidden in places such as
the backside of dry wall, wallpaper or paneling, the top-side of ceiling tiles,
or the underside of carpets and pads, etc. Other possible locations of hidden
mold include areas inside walls around pipes (with leaking or condensing pipes),
the surface of walls behind furniture (where condensation forms), inside
ductwork, and in roof materials above ceiling tiles (due to roof leaks or
insufficient insulation).
Mold Problems
require caution when the investigation involves disturbing potential sites of
mold growth. For example, removal of wallpaper can lead to a massive release of
spores if there is mold growing on the underside of the paper. If you believe
that you may have a hidden mold problem, consider hiring an experienced
professional.
Biocides
The use of a chemical or biocide that kills organisms such as mold (chlorine
bleach, for example) is not recommended as a routine practice during mold
cleanup. There may be instances, however, when professional judgment may
indicate its use (for example, when immune-compromised individuals are present).
In most cases, it is not possible or desirable to sterilize an area; a
background level of mold spores will remain, and these spores will not grow if
the moisture problem has been resolved. If you choose to use disinfectants or
biocides, always ventilate the area and exhaust the air to the outdoors. Never
mix chlorine bleach with other cleaning solutions or detergents that contain
ammonia because toxic fumes could be produced.
allergic reactions in some people, so it is not enough to simply kill the mold;
it must also be removed.
Mold
associated with mold exposure include allergic reactions, asthma, and other
respiratory complaints.
mold and mold spores in the indoor environment; the way to control indoor mold
growth is to control moisture.
must clean up the mold and eliminate sources of moisture.
leak to prevent mold growth.
decrease mold growth by:
a. venting bathrooms, dryers, and other moisture-generating
sources to the outside;b. using air conditioners and de-humidifiers;c. increasing ventilation; andd. using exhaust fans whenever cooking, dishwashing, and
cleaning.
materials and furnishings within 24 to 48 hours to prevent mold
growth.
and detergent, and dry completely. Absorbent materials that are moldy (such as
carpeting and ceiling tiles) may need to be replaced.
potential for condensation on cold surfaces (i.e., windows, piping, exterior
walls, roof and floors) by adding insulation.
In areas where there is a perpetual moisture problem, do not install
carpeting.
can grow on virtually any substance, provided moisture is present. There are
molds that can grow on wood, paper, carpet, and foods.
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| Photovoltaics and galvanized siding are green features of this Kihei, HI home. Photo: Zillow |
If you had asked someone in the 1960s what the home of 2015 would look like,
chances are they imagined something akin to The Jetsons’ home complete with
Rosie the Robot and other space-age appliances that dressed and fed the
family.
But, rather than space-age technology, the biggest thing that is expected to
change in future single-family homes is the size.
“Homes will get smaller,” says Stephen Melman, Director of Economic Services
at the National Association of Home Builders (NAHB) in Washington D.C. “We asked builders, ‘what do you anticipate
the new home size would be by 2015?’ ”
According to the results of the study, surveyed home builders expect new
single-family homes to check in at an average of 2,150 square feet. Current
single family homes measure around 2,400 square feet, which is already a
decrease from the peak home size in 2007 of 2,521.
While the decrease in home size has a lot to do with the recession, many
believe that the real estate changes will stick around even after the economy
and home values get back on solid ground.
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| This Sherman Oaks, CA home has a great room, encompassing dining, living and family rooms. Photo: Zillow |
“Although affordability is driving these decisions, smaller homes are a
positive for builders,” said Melman. “It allows for more creative design, more
amenities, better flow. It’s an opportunity to deliver a better home.”
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| Home digital control panels can help manage security and energy consumption. Photo: Control4 |
Other things that make up the home of 2015? No more living room. According to
the survey, 52 percent of builders expect the living room to merge with other
spaces and 30 percent believe that it will vanish completely to save on square
footage. Instead, expect to see great rooms — a space that combines the family
and living room and flows into the kitchen.
Expect to see more:
- spacious laundry rooms
- master suite walk-in closets
- porches
- eat-in kitchens
- two-car garages
- ceiling fans
Expect to see less:
- mudrooms
- formal dining rooms
- four bedrooms or more
- media or hobby rooms
- skylights
Many of these changes reflect a desire for builders and consumers going
green. Smaller space means more efficient heating and cooling. Ceiling fans
distribute heat evenly while skylights, on the other hand, release heat.
However, as builders look to go green, they’ll be installing energy-efficient
windows and compact fluorescent and LED lighting, as well as water-efficient
appliances and plumbing.
Additionally, many new homes will have the baby boomer population in mind
with walk-in showers, ground-floor master bedrooms and grab bars.
“A bigger share of the new homes will be purchased by people 55 or 65 and
older,” said Melman. “They’re more likely to have more cash for a down payment,
but they’re empty nesters, so they don’t need five bedrooms.”
WHAT WILL YOUR HOME LOOK LIKE?
http://realestate.yahoo.com/promo/a-look-ahead-at-new-homes-of-2015.html
| Make any home improvement job easier with these hard-working multitasking tools.
Tool TimeDoing some remodeling? Whether you’re tackling a full-on renovation or just |
Nail ItDrive nails up to 3 1/2″ long at 3,600 impacts per minute with the cordless |
A Cut AboveA spiral jigsaw, edge sander and detail router, the Dremel Trio can cut wood, plastic, drywall and tile. |
Smooth OperatorRidgid’s R3100 compact orbital jigsaw is fast (3,000 |
Cool ToolSand furniture, cut drywall and remove grout with Skil’s oscillating tool that has five blades, a |
Know the DrillBlack & Decker’s lightweight cordless 20V MAX Lithium Ion |
Tool UpAt a meager 1 lb, the Kelvin.23 does the job of, yes, 23 tools, including a http://shopping.yahoo.com/articles/yshoppingarticles/701/7-cool-home-improvement-tools/
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Spending stalled across the board in the housing market over the past few years. As lending tightened, many buyers found themselves foregoing moves and holding off on remodels.
That trend is changing, however, as consumer confidence returns and homeowners once again gear up for remodeling projects.
According to the National Association of Home Builders (NAHB), the remodeling market is heating up once again. It is now at the highest level in four years. “Home remodeling continues to slowly increase and continued growth through the year is expected.” said NAHB Chief Economist David Crowe. “The fact that some indicators are breaking 50 means remodelers are seeing improving activity in their markets. While credit scarcity and economic uncertainty continue to weigh down remodeling, signs of increasing consumer interest are promising.”
The breakdown of all current remodeling market indicators showed increases, from major and minor additions to maintenance and repair.
“Remodelers report a jump in activity so far this year and have been receiving more calls for work and appointments,” said NAHB Remodelers Chairman Bob Peterson, CGR, CAPS, CGP, a remodeler from Ft. Collins, Colo. “However, many home owners are still slow to commit to remodeling due to feeling uncertain about the economic recovery and difficulty obtaining loans.”
There are still hurdles for homeowners to jump, namely by way of loans. Ninety percent of those surveyed said they still think it is hard to get financing. And many homeowners can no longer rely on home equity lines of credit. Eighty-one percent of those surveyed in the Remodeling Market Index (RMI) noted that they’ve lost equity in their homes. Seventy-four percent are still uncertain about their future economic situation, and 54 percent find inaccurate appraisals are making financing more difficult.
Regionally, all areas experienced growth. The exception was the Midwest, which while it still has the highest rate of remodeling, was down from the 4th quarter of 2010.
Increased interest in remodeling means increased revenue for local contractors and craftsman. This is welcome news for a nation that has seen near 10 percent unemployment. Hopefully, as the economy recovers and buyers regain their confidence, more strides will be made in the housing industry.
Around the corner from where my daughter lives in San Francisco, I just thought this was an amazing architectural achievement of thinking “outside the box” for parking needs inside city limits
If moving to a bigger home or building an addition isn’t in the cards, here’s how to maximize the space you have – on a budget.
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| Some new kitchen paint on walls or cabinets works wonders |
Make Over Cabinets, $1,000
Give your dowdy kitchen cabinetry a lift with paint and new hardware. Proper preparation — cleaning, sanding, priming and painting with an oil-based or 100% acrylic paint — is key to a good-looking, long-lasting result. Using a paint sprayer helps, too (rent one from a paint or home-improvement store). Pros charge an average of $547 to do the job with one coat of paint on 150 square feet of base and wall-hung wood cabinets, according to Do It Yourself or Not (www.diyornot.com).
You can cut the cost of painting to about $200, regardless of size, if you do it yourself. For inspiration, visit Web sites such as Better Homes and Gardens (www.bhg.com; see “30 Low-Cost Cabinet Makeovers”) and www.houzz.com. Add touches by removing selected cabinet doors and painting the interior a contrasting color, adding glass panes to solid doors, and using beadboard for texture.
Hardware — knobs and handles — is the jewelry of cabinetry, and the Internet provides endless options. You can spend from a few dollars to $50 or much more per knob or handle. Anyone for a door handle in silver plate and Swarovski crystals for $120? You’ll find a fine discounted selection at www.knobsforless.com.
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| Optimize space by building an office nook into a basement wall Photo: flickr/AdamSelwood |
Create An Office Nook, $250
Don’t have an entire room to make into a dedicated home office? Create an office nook by redoing a corner of a room or repurposing a closet. If you use a closet, first remove existing shelves and the hanging pole, then paint.
Closet kits provide quick and easy storage, with shelves and brackets attached to tracks that screw into wall studs. Elfa’s “Office in a Closet” ($232 if you do it yourself or $412 installed from www.containerstore.com) comes with five solid (not wire mesh), 30-inch-long shelves, including a deeper shelf to use as a desk, and hanging hardware. Add a rolling file cart to store under the desk shelf. Elfa sells one for $99 with a hanging-file frame and two drawers, but you can get cheaper ones at discount stores. Hiring an electrician to install an electrical outlet for office equipment, if needed, will add $75 to $250 to the price.
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| Organizing a garage is a low cost, high yield project Photo: Storewall |
Reclaim Your Garage, $1,000
Many homeowners have a no-car garage because it’s so full of stuff that there’s no room to park a vehicle. Look for a slatwall system that uses molded plastic panels with slots from which you can hang hooks, shelves and baskets. Fasten the panels to your garage walls via one of several methods, such as drywall screws into studs.
You can order a starter kit directly from manufacturer storeWALL ($529 at www.storewall.com). The kit includes six panels (4 feet by 15 inches) totaling 30 square feet, plus two shelves with brackets, two shoe shelves, six hooks, two baskets, trim, caulk and screws. At www.mygaragestore.com you can buy individual storeWALL components (six 4-foot panels totaling 30 square feet for $189, or four 8-foot panels totaling 40 square feet for $283), as well as hooks ($6 to $19), baskets and shoe shelves ($18 to $59), and shelving ($49 to $60).
MyGarageStore.com also sells kits for different applications, such as the WorkCenter kit, with an assortment of shelves, bins and racks for tools and hardware ($130), the Golf Sports kit ($72) and the Bike Sports kit ($39). And put the overhead space to use, too. Lift and store bicycles, canoes and bins of gear using a Harken ceiling hoist. A manual hoist ($29 to $180 at www.mygaragestore.com) can lift from 45 to 250 pounds; an electric one, from 70 to 220 pounds ($169 to $229).
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| Closet organizers are modular and cheaper than built-ins Photo: flickr/markomni |
Organize Your Closet, $500
Has your closet become an avalanche waiting to happen? You need a closet organizer. First, empty the closet and decide what to keep, toss, donate, consign or sell. Once you know what stays, you can pick a system accordingly.
Most manufacturers of closet organizers offer an online tool with customer support. At www.rubbermaid.com, choose a layout similar to your closet’s and enter measurements, then drag and drop closet kits onto the rendering. The tool will generate a shopping list of appropriate components available directly from Rubbermaid, and at Lowe’s (where it’s sold as the HomeFree brand) and Menards stores. For example, a walk-in closet with two 6-foot-long walls and one 8-foot-long wall would require three kits totaling $440. (Accessories, such as a two-drawer unit, would push the total above $500.)
Add Value
Make your house more efficient and comfortable with small projects that pay off when you sell.
Replace A Window, $500
Do you have a window that’s especially leaky or tough to open or close? Replace it. If the framing is fine (try poking a screwdriver into the sill to see if it has rotted and use a level to see if it’s reasonably square), you can install a replacement window into the original opening, replacing the sashes, side jambs and trim. Expect to spend $100 to $500, depending on the material and features (vinyl is cheaper than wood). A handyman may charge about $30 to $100 to install it, and as much as twice that if he must rebuild the frame (called a new construction frame). If you buy an Energy Star-qualified window through December 30, 2011, you can claim a tax credit for 10% of the cost (excluding installation) up to $200.
The Web sites of window manufacturers, such as Andersen, Marvin and Pella, include guides to selection also see Everything You Need to Know About Replacement Windows).
Hard-Wire A Room, $1,000
As the electronic gadgets in your home grow in number and appetite for data, you may want to replace a wireless network with one that is hard-wired and cabled. Such a system will provide faster data and video transmission that’s more secure and reliable. Your images will be clearer, and you’ll be able to move massive files from a laptop to a desktop computer in a tenth of the time it would otherwise take. You could also connect a game system to the Internet to play video games remotely with friends — and watch the action on your flat-panel HDTV.
Start with your most-used room — say, a family room or home office. An electrician will pull wire and cable through the walls, attic and basement as needed to create multiple outlets. The cabling will serve your computer, laptop, peripherals, HDTV, DVR and game system and run back to wherever phone and Internet service enters the house.
Look for a licensed and insured electrician who specializes in residential service and home networking. The more wiring that’s required and the more difficult it is to access the wall space, the greater the cost, says Marcus Smith, owner of SmithLudwig Electric, in Austin, Tex. Hourly labor rates vary widely, so in some markets this project may exceed $1,000. Save money by obtaining permits and patching walls yourself.
Add Style
These projects will let you enjoy your home more if you’re staying put, or add curb appeal if you’re planning to sell.
Remake An Entrance, $250
If your home’s front entrance presents a sad face to the world, brighten it up by painting the front door with an accent color. Benjamin Moore’s Aura Exterior, about $20 per quart, is a good choice; it hides imperfections, is easy to apply, dries quickly and resists fading and weathering.
Finish the door with new hardware. A new lock set could easily eat up half your budget or more, so look for one on sale. At www.handlesets.com you’ll find a good selection at discounted prices, often almost half off suggested retail. (Installation is an easy job, but if you lack the time, a handyman will charge $30 to $100). Add kick plates (screw-on or magnetic, $25 to $112) and door knockers ($10 to $226) from the huge selection at www.signaturehardware.com.
Replace a beaten-up mailbox with one from www.seattleluxe.com, which carries almost 1,200 boxes, wall- and post-mounted, in many styles, materials and finishes. They run from $29 all the way up to $3,960 for a German-made, lord-of-the-manor model. Add pizzazz or character with house numbers from www.housenumberconnection.com. You’ll find styles from Craftsman to the Age of Aquarius in copper, brass, aluminum, steel and tile ($11 to $47 apiece).
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| Electrical installations aren’t for everyone, but they do shine! Photo: Lithonia Lighting, an Acuity Brands Co. |
Update Your Lighting, $500
Are you living with outdated light fixtures that aren’t yet fashionably retro? Switch out one or more, especially in a prominent place, such as over your dining-room table. To get a feel for styles, visit www.lampsplus.com or the Web sites of home-furnishings retailers, such as www.westelm.com. Look for Energy Star-rated fixtures, which use one-fourth the energy of traditional lighting. Lithonia Lighting (www.lightahome.com) makes several styles of energy-efficient chandeliers. A five-light chandelier goes for $199 in antique bronze and $258 in brushed nickel. Installation costs $60 to $100.
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Many people, often working under the assumption that all renovations increase the value of a property, spend thousands of dollars on expensive upgrades, changes and additions to their homes. What these people forget, though, is that the next owner may not like the renovations. In fact, most people who buy property make significant changes to it over a period of time. Also, the price of a home is dictated mostly by market forces (such as what other similar houses are selling for), not necessarily by the characteristics of a home. Yes, some qualities are highly-sought after (depending on the area, the time of year, and the personal interest of potential buyers) — such as garages, finished basements, enclosed yards, big kitchens, etc. — but many of the things assumed by some to increase the value of a home in fact do not affect the value at all. They include the following:
Swimming pools. While some people may long to have a swimming pool, some buyers may dread having one. Swimming pools are hard to keep clean and maintain and they are a serious health hazard for unsupervised children and pets. If your property already has a pool, by all means, keep it in good condition for prospective buyers, but don’t put one in under the assumption that it will increase the chances of selling the house or getting more money for it. That is just unrealistic thinking, in most instances.
Over-renovating for your neighborhood. If by making some expensive renovations to your home you are creating a piece of property that will stick out like a sore thumb or drive its price well beyond other homes in that area, then you are making a huge mistake. People may only see the higher taxes they will be paying (since your home may get a higher assessment than other properties), the higher maintenance costs (such as a fancy landscaping may require), or the danger of being viewed as “pretentious” by their new neighbors.
Extensive landscaping. Chances are that the new owners will do their own landscaping. Why would they want to pay you extra money for putting in something that may appeal to you but not to them? You are better off just making sure that your grass is mowed, your bushes trimmed, and your leaves picked up.
High-end upgrades. These can include stainless steel appliances, imported tiles, fancy bath tubs, built-in Jacuzzis, hand-decorated wallpaper, Persian rugs, expensive light fixtures, etc. While some of these things may appeal to you personally, they may not impress potential buyers — in fact, they can sometimes be a turnoff. Most people want to personalize their own home. Also, by adding these things you may disrupt the home’s general décor, which most experts agree should be kept consistent throughout a home.
Wall-to-wall carpeting. You might be better off restoring a home’s wooden flooring. It is easier to cover a wooden floor than it is to rip out carpet. Either way, you can be sure that the new owner will make changes, regardless of what you do. For that reason, you are better off leaving what you have as it is. If you have carpet, let professionals give it a good, strong cleaning, making sure to treat any noticeable stains. If you have wood flooring, sand them down and give them a shiny coat.
Invisible improvements. While they may sound good on paper, don’t expect potential buyers to agree to a higher price because you went out to invest on new plumbing or a new HVAC unit for your home. In general, buyers are impressed by what they see, not what is hidden behind walls or kept in the basement. It is not that they would not appreciate having such a thing but that they might have preferred to have picked it out themselves. At any rate, they will probably feel entitled to these added frills in the same way buyers of new cars feel entitled to new tires, spotless upholstery, and a working CD player.
A refinished or well-decorated basement. While some people may be looking for homes that have this feature, even they may not be ready to pay more than the house should be worth (based on comparable houses) just because the basement is ready to be moved in to. Such a feature may help clinch a sale but it will probably not pay for itself.
Building or upgrading a deck. Decks are a great addition to a home but this is something that some people might want to tackle themselves and they may not like the design you picked out or the quality of the work put into it.
Patio frills. Some people think that they can get their money back if they invest on water fountains, fish ponds, awnings, gazebos, or a multi-purpose playground. These things may or may not impress a buyer and may even help clinch a sale (if you can find someone who shares your taste) but they will not generally increase the value of a home — at least not commensurate to what you spent on these “luxuries.”
The addition or expansion of a garage or carport.
While many people acknowledge that a garage can be very useful, this does not mean that they will necessarily pay more for a house just because the owner recently added a garage or carport to it. People will just assume that the addition benefited the owner as much as it may benefit them — in other words, it is not something that they will necessarily feel an obligation to make any extra compensation for.
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