Tuesday, July 17, 2012

TO INVEST, OR NOT TO INVEST? Part 2

          Hello JOI fans!  This is Part 2 in what I have decided to make a 3 part series that addresses common home investments, and the pros and cons of each.  Part 1 covered investments made to the exterior of a home.  Part 2 will address interiors, with focus on resale value.  Part 3 is for interiors, but focuses on the value to homeowners not planning to sell right away.  Enjoy Part 2, and stay tuned for Part 3 later this week!


PART TWO- INTERIORS FOR RESALE

GRANITE
There is no doubt about it.  Granite is a beautiful material, and is very well known and popular in recent years.  I am a granite fan in general, but I believe that like laminate and tile countertops, it is a trend that will eventually subside---at least for a while.  There are other options for countertops that are unique and can help you sell your home:
  • QUARTZ  - One newer countertop option is quartz.  Brands like Silestone, Caesarstone, and Zodiaq are becoming VERY popular.  They have great advantages over granite, such as being low maintenance, and it is a green material.  Quartz countertops come in hundreds of colors and textures, some that are engineered to appear like granite, some that are more unique and whimsical. 
  • SOAPSTONE  - This option is a very durable material with a deep green tone.  It is a natural material like granite, and is becoming a new popular choice for something out of the mainstream.    
  • LIMESTONE-  Limestone is an exquisite material---beautiful and neutral.  However it does have a similar density to marble, which stains easily.  Be sure to finish the stone properly to avoid stains.  I recommend if you are considering limestone, to use it for mainly bath countertops, and not in kitchens.
  • CONCRETE- For homes that are more modern and being promoted as such, concrete countertops are becoming well known and desired. They can have a matte finish or can be polished.
The fore-mentioned are options that may help you stand out from the competition.  Every Tom, Dick, and Harry are going to have granite countertops.  Do not feel like you HAVE to invest in granite in order to sell your home.  Be different, but retain elegance and class.  Speak to a designer to determine the best fit for you.

CROWN MOLDING
Crown molding is becoming one detail that many prospective homebuyers are noticing.  They may not go out in search of a home with that one specific feature, but when they view a house with crown, it is usually noticed and admired.  The cost of crown molding can be as little as fifty cents per linear foot, so it is a small investment that truly makes a large impact.  I recommend white crown, because not only is it classic and sure to please, but it does not have to be solid wood.  It can be purchased in paint grade MDF, or even vinyl.  Vinyl is excellent for curving walls that normally would require a bunch of complicated cuts.  While crown molding and upgraded door and window trim can be cost efficient, they can also become very costly depending on the size and material type.  Speak to a qualified designer to determine what size and style is appropriate for your home, and if in fact it is a necessary investment.  It is very helpful in older homes that need a facelift, but in homes that are 10 years old or less, it may not get you a high enough return to make a difference.

WOOD FLOORS
There is no question that wood floors are IN DEMAND now.  Carpet, linoleum, and even tile are now frowned upon by most prospective buyers, regardless of how practical they may be.  It is important to remember what actually sells, and not so much your personal preferences.  However, if the budget is tight, don’t go bankrupt trying to please the masses in an attempt to sell your home.  My recommendation in some cases would be to install wood flooring in the entryway, and the areas that are more public, such as the family room area---the areas that you notice first, before touring areas like the laundry room, or the bedrooms.  Carpeting is usually perfectly appropriate in bedrooms, but if you are re-carpeting, remember to choose a NEUTRAL color and pile.  In addition, not all woods are created equal price-wise.  Maple for instance will cost you much less than Cherry or Mahogany.  The right type of wood will vary by home—based on the architectural features and how the home is expected to be received.  A modern home with strong angular elements will not appeal to modern buyers if it has traditional oak flooring.  Consider consulting with a designer to determine which type of wood will be right for the property type and budget.

HIGH END APPLIANCES
When updating your home for sale, first off, don’t concern yourself with the potential nit-picky preferences of the home buyer.  If someone just happens to be a gourmet chef, and makes soufflés and sushi every other day, that should not break YOUR bank.  Second, as a rule of thumb, “High end appliances” are expected in “High end homes”.  If you are remodeling your kitchen immediately before sale to increase your asking price, your goal should be to make a good first impression and create that wow factor.  In the average 4 bedroom home, most prospective buyers do not walk in EXPECTING a Viking 6 burner range and oven, which can cost you over ten thousand dollars.  For wow factor, stainless steel gas powered is the ticket (currently), but that does not mean you need to go super high end to impress buyers.  Again, this is not the case in luxury homes.  Whether selling a luxury estate, or the average 3-5 bedroom, if you do not have much to spend on home improvements, consult with a qualified designer that can help you determine how to get the biggest bang for your buck.

WALK-IN CLOSETS
One feature in a home that will most definitely make an impression on buyers is a walkin master closet.  However, in many spaces, walkin closets are simply not feasible.  It is true that walkin closets are in demand, but they can actually do more harm than good when it comes to storage space, AND general square footage.  Some homeowners have more than enough linear feet of closet space, but are not utilizing it properly.  A 6 foot wide sliding door closet can more functional than a walkin and vice versa depending on the circumstances.  A walkin closet will likely be to your disadvantage if it eats up too much of the square footage within the bedroom.  Whether reselling or not, if you are considering adding a walkin closet, is it advisable to speak with a qualified designer that specializes in remodels and preferably storage systems to determine if it is a practical investment.  These are JOI specialties, so call 925-895-1336 for an appointment.

SHUTTERS & WINDOW COVERINGS
One of the top investments in homes right now is interior shutters.  These are definitely in high demand and add significantly to curb appeal.  However, it is not always necessary to install them throughout your ENTIRE home.  When considering this investment, I recommend using shutters on at least the windows visible from the street.  Shutters are not right for everyone though, nor are they right for all window types.  Many homeowners will put shutters on literally every window in their home, including sidelights and tiny accent windows.  On a 1x5 or a 2x2 window a shutter looks ridiculous, but it happens ALL the time.  Furthermore, the custom size surcharges can be ridiculously high.  For those special size windows, it is often best to just leave them uncovered.   Shutters are available in wood as well as vinyl, so cost varies.  They are usually worth the money, but you may want to address this with a professional designer who will have an unbiased and educated opinion.  As far as other window covering types, the options are endless.  Mixing more than one type of window treatment in a home can be a bit tricky though.  I offer and specialize in window coverings, so call for an appointment.  925-895-1336

WALKIN SHOWERS
Whether or not you are selling, walkin showers have become all the rage.  They give a luxurious spa feel to any master bath. “Master bath” being the operative term.  Walkin showers are popular, but many times can put sellers at a huge disadvantage.  You should have at least ONE tub in your home to accommodate buyers that have small children.  Tubs are often a deal breaker, so BEWARE!

        
         I hope you enjoyed Part 2.  Stay tuned later this week for Part 3, and contact me with any questions or if you would like to schedule a JOI consult in your home.  Thank you!   :)


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