Archive for the ‘Home Additons’ Category

As buyers tastes are changing and the resale market gets increasingly competitive, there are some many improvements that make sense while returning dollars to homeowners - and some that don't.

Here are what we see as the best and worst home improvements to make now:

The best home improvements to make now

Kitchens and master baths

Improvements in these key resale areas consistently garner a high rate of return. One note of caution, any renovation that is not well thought out or poorly constructed is not going to pay. In today’s highly competitive market, substandard quality and design will stick out like a sore thumb. At the same time, don’t feel locked into tradition. Many homeowners are converting unused garden tubs into larger walk-in showers – a no-no in the past now made practical due to a booming aging in place market.

Removing a wall(s) to join spaces or maximize space

This may be very simple or involve structural issues, but an experienced, licensed remodeling contractor can turn two small rooms into a great family room or expand a small kitchen, bedroom or bathroom to improve its functionality. You’d be amazed at what a large difference this relatively minor change can make.

Conversions of walk-in attics to extra living space

This project makes sense because you already have a roof above and a foundation below this space, so even if you do have to modify the area structurally, you’re still realizing a savings over building from scratch. As roof pitch has increased, it’s not uncommon to be able to reclaim 1,000 square feet up there; what to do with that windfall leads to #4:

Home offices

Twin trends of increased connectivity and corporate office downsizing have seen more people working from home at least part of the time. While a basic den used to suffice, it’s now not uncommon to see two home offices, one for each spouse. Untapped attic space is a cost-effective place to put these connected and functional areas.  If possible, plan this space so it can be multi-functional. Being able to function as a bedroom or bonus room will provide enticing options for future buyers.

Adding an extra room with a bath

Adding a bedroom along with a connected or adjoining bath makes all the difference.  Why? Because it gives future buyers added flexibility – it can be used as a bedroom for family members or guests, a home office that can accommodate visitors, a playroom or more.

Outdoor Living Spaces

Any expansion that better utilizes outdoor space, such as porches, lanais and grilling areas, is effective because it adds living space without adding structural costs. Cost-conscious consumers also want the ability to entertain family and friends at home, making this an ideal project.

Adding Granite

Thanks to its popularity, the price of this durable and beautiful surface material has decreased while the colors, styles and options have increased dramatically.  (Read Six Misconceptions About Granite to learn more.)

Enlarged Garage

While a two-car garage used to be the norm, more buyers are looking for space for three. It makes sense when you consider the space needs of teenage drivers, multiple family cars, small boats, jet skis, lawn mowers, lawn tractors, golf carts, and all that “stuff” that accumulates.  If you plan to live in the house for several years and benefit from the addition in the meantime, it may well be worth the investment.  Also consider adding living space above a new garage, which can have multiple uses – a man cave, office, playroom, arts and crafts room, etc. – and makes the project more cost effective, since you already have a foundation and roof planned for the garage addition.

The worst home improvements to make now

Here are some projects that we generally advise against in our area:

Extensive, Single-Purpose Home Theaters

As technology changes at an ever-increasing pace, these areas may not be as practical as they once were. In just the past few years, flat screens have gone from a novelty to a standard, and new introductions like 3-D TV are making the technology behind spaces that are just a few years old obsolete. Heavily automated areas can be costly to maintain and upgrade unless you are working with a forward-thinking provider.

Under-improvements

Particularly in kitchens and master baths, you want to keep up with the level of quality and finish exhibited in comparable homes and not sacrifice the return on your enjoyment and investment to save a few pennies. We recommend that clients opt for tile or natural stone over vinyl floors; take out preformed shower stalls and tubs and replace with enamel tubs and tile surrounds; consider raising standard counter surface heights; and skip solid surfaces other than granite that are more expensive and outside the mainstream.

Do-it-yourself projects

While tackling a project yourself can bring a great deal of satisfaction, be aware that projects that don’t look professionally done will standout to savvy buyers.  If poorly executed, such projects can negatively impact your property’s saleability and even negate the savings you gained by doing it yourself.  Additionally, not pulling the necessary Building Permits for electrical, plumbing or mechanical or not having proper inspections done throughout the project could prove costly. Failure to do so could subject your DIY project to financial penalties from the local Residential Code Enforcement Department or even jeopardize a future sale if construction is not compliant with local Building Standards and/or permits were not filed.  (Read our Whether Permitting article to learn more.)

No matter which project you’re considering, remember to take into account how long you’ll remain in your home and how much better it can make your life as you weigh its value.

Maybe it happens when you open the pantry door and three cereal boxes and a stack of Tupperware that had been carefully wedged in the small space fall at your feet. Or perhaps it happens when you're late for work yet again, because you can't get to the shoes in your closet, which is located on the other side of a locked master bathroom door. Regardless of the source of your frustration, you know that it's time that you did SOMETHING to make your house more functional, beautiful, hospitable … more your home.

Yet when you're considering a possible renovation, where do you even begin? When we meet with potential clients, we often see them make two different mistakes that we want you to avoid - not knowing what they want and not knowing what they want to spend. Here's how to begin your project the right way, so you won't fall into either camp.

First, take the time to make a list of your concerns. Simple statements like: "I hate my kitchen. My master bathroom is ugly." are fine at this point. Just jot them down and then prioritize them. By doing so, you'll naturally begin to define the scope of your project. Also, think about what isn't working for you now. Don't fret about how to design or construct it at this stage, just think about what you would really like to change or add. A professional, experienced remodeler will know exactly how to achieve the end results you want and will guide you through the process.

Next, give some thought to how much you really want to invest in your home. Since they don't do this every day, most homeowners don't have a solid grasp of what a renovation actually costs, but that's also okay at this point. Initially, your main concern should be with what you want to invest. Consider your home's value and the market value of other homes in the area. Bear in mind that we are living in unprecedented real estate times, so if a Realtor says your home is only worth $X per square foot, look at the history of the area and realize that value could escalate again in the future. Then take into account intangibles like how long you plan to stay in your home – is it one year, five years, ten years, or are you never planning to move. If you're considering moving, ask yourself whether you like your current home's location, the schools your children attend, the neighborhood, its level of convenience, etc. Ask whether you really need a larger house or just one that better fits your lifestyle. (Read our 10 Reasons to Renovate Instead of Moving blog article to learn more.)

Going through this process will help you crystallize your thinking. You may decide that you need a new home, which is great and you'll have made a well-informed decision. But you may discover that to fall in love with your home all over again, you just need to update a kitchen or bath, remove a wall to better utilize existing space or add more room to entertain.

If that's the case, then it's time to talk to a qualified, professional remodeler who has substantial experience dealing with the type of projects you're considering. Being honest with your contractor about your hopes and budget is critical, because at this point you will begin to officially define the project's scope and determine whether it is realistic within the confines of your budget. Don't lose heart if the initial proposal comes in over budget, because if you have clearly prioritized, a qualified, professional remodeler can find practical ways to phase in the project over time as your budget allows.