I am often asked if it is wise to remodel this or that. I am asked if it is wise to install an inground pool because the person really wants one. Here are a few things to remember.
1. If you want a pool, install a pool. You don’t do it for resale value. If you have the home for 5 years and enjoy the pool, then you have had enjoyment which you paid for. So what if it loses half its value. If you are value conscious, don’t do it. If you really want one and can’t afford an inground pool, then a good way to go is an above ground pool. I saw one that was sunk halfway into the ground with a deck around it and it was amazing. The homeowner did the work and I think he said he spent 3,000. It looked just like an inground pool. So if he sells in the future, he can just tear it out or leave it. He has little investment. This is actually a popular thing now.
2. Deck – If you want one do it. THe payback on a really well done deck is good. Typically 80 percent of the cost can be recouped.
3. Flooring – This gets trickier. Depending on your price range, laminate flooring is good. Get into say 200,000 and above and it can hurt a sale. People want wood but don’t understand why a 150,000 home they are looking at is using laminate instead of wood. Of course, they are uneducated with what the cost is or they would know they are being unreasonable. A good quality wood floor is expensive. How do I know? I have wood through my entire home except the areas that have ceramic tile such as the entry, kitchen and baths. Don’t install odd colors or styles if you are thinking about selling in the near future or you will just have to change it out.
This being said. If you are planning on staying in your home for a long time and you want that lime green shag carpet, I say put it in. After all you are pleasing yourself and not everyone else. People lose sight of this. I see other columns saying to not do it. They have no clue. Do what you want, just expect to change it when you sell. If you stay in a home a long time, you will have changed it out more than one time anyway. Carpet needs to be changed more often than people change it as it becomes a dust magnet over time and you just can’t get it all out. It gets in the backing even.
3. Windows – Yes, the new low E windows are a good idea. You get a tax break from the IRS and you save on monthly utilities. I know as I installed them in my sunny areas. Now I don’t worry about hotspots in my house. Really an amazing product. It will pay for itself totally if you advertise it properly. That is the key. I sometimes see homes that don’t advertise their strong points nearly enough. It is because the agents don’t take the time to ask but also they just don’t even know certain things even exist. They get caught up so much in trying to find that next customer that they lose focus on new ideas in building. I am not talking green per se. That is not a new concept. We are just hearing about it now with the rising cost of energy. It has been around for many, many years. It is just now other products are catching up such as appliances.
5. Kitchen – Yes, remodeling a kitchen is a good thing. Just remember your price range and don’t go overboard. I have seen flippers putting granite counters and stainless steel appliances in homes that just don’t make sense for the price range and the area. Uncommon. Is this bad? No, but they could have saved money as in certain price ranges, it isn’t expected and they threw away profits or invested in other areas to make the home more appealing overall. So don’t waste money. Forget what HGTV says about spending 50k on a kitchen and getting it all back. Here in Texas, I am scratching my head trying to figure out how you can spend 50-60k or more on a normal size kitchen! I am in the wrong business!
6. Siding – Bad siding is an instant killer by a buyer. Spend some money and do the hardi siding. Vinyl siding is not big in Texas, nor is aluminum siding. The hardi siding is durable, looks good and lasts. Yeah you have to paint it but not as often as you might think.
7. Painting – This is a sore point with me. People in Texas just don’t paint their homes like they should. I still see homes around that are 15 years old and never been painted. They have moldy siding and surely the owners see the fresh homes around them. And you might be thinking they can’t afford to paint. Well, after so many years of not painting, this is no excuse. It is apartment time or condo time. Really taking care of a home is a big investment if you need to think about these things in advance. A unkept home can cost neighbors surround it thousands and thousands of dollars in their lost values. Plus it can even keep them from selling altogether! So paint your home at least every 5 years. Pressure wash in between. It is cheap and easy. No excuses!
8. Bathrooms – Baths make a huge difference on a sale. Updaing is a big deal. It isn’t cheap but you can shop around and save in various ways. You will be amazed how much you can save with a little creativity. Oh, and forget the bowl sinks! Those are so yesterday! Try using one and you will see why. I see a lot of builders adding them and they just need to research this a bit. It is an outdated style and people just don’t like a bowl sitting on the counter for a sink. Some are better than others. I receive and have for years, many house related magazines. I keep up with colors and styles. I see so many dated things going into homes as the builders themselves have not taken the time to educate themselves on not only trends, but items that are no longer trendy.
I can go on and on. If you have any specific questions, I will be glad to answer them. I have been doing this for over 19 years and do try to stay on on top of things. I might not post regularly, that I give you, but I do know my business!
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By: kathrine on December 31, 2008
at 10:59 pm