home renovation - SkirtingBoards.com®

The Pros and Cons of Purchasing a New Build

August 16, 2019 by admin

We all love “shiny and new” — and newly-built single-family homes are downright irresistible. And when the existing home inventory is limited, and consumers have confidence in the market, a significant number of homeowners will consider a newly-built residence.

However, it’s not a slam-dunk decision. There are benefits and disadvantages to purchasing a new build. These are some of the factors to consider.

New build pros

A new build can incorporate your wish list. Image: Andy Dean Photography/Shutterstock

A new build isn’t someone’s leftover home

The only thing better than new car smell is new house smell. The first home I ever purchased was a new build and, as a germaphobe, I loved the idea that no one else had ever hung clothes in my closets, cooked in my kitchen, parked in my garage or sat in my garden tub. Admittedly, I have no idea what the contractors and workers did before I moved in. As a true germophobe, I still scrubbed every single surface. But I didn’t have to scrub as hard since there weren’t any previous owners.

A new build won’t have old pipes and wiring. Image: Artazum/Shutterstock

A new build is up to code and up-to-date

“People like to say that we ‘don’t build them like we used to.’ This is a good thing,” Nathan Outlaw, President of Onvico in Thomasville, GA, says. “Code and energy requirements have come a long way and buying a well-built new home will be much less stressful than remodeling an older home.”

That’s because homebuyers can avoid those unexpected expenses that occur when workers find issues like asbestos or old plumbing that needs to be replaced. Homeowners can also incorporate the latest trends in kitchen and bathroom technology to maximize the home’s potential.

You can usually pick your flooring and other materials. Image: Artazum/Shutterstock

(Sometimes) the sky is the limit with a new build

Michael Menn, a Chicago-based architect who builds new homes and remodels existing homes, says there are pros and cons to purchasing a new build. “When a homeowner purchases an existing home, there will be compromise on the floor plan,” he says.

However, when his clients purchase a new home, Menn says they can customize and personalize every detail. He adds that they can pick “everything from the floor plan to the flooring, cabinetry, plumbing, etc.” So homeowners can decide, for example, if they want tile or hardwood floors in the kitchens and baths or they can make the home as plush as a hotel.

There’s more competition for existing homes. Image: Carol Franks/Shutterstock

There’s less competition for a new build

“According to the National Association of Realtors (NAR), the average time an existing home is for sale on the market is 30 days — although this depends on the part of the country, time of the year and other factors,” Menn explains. Homes sell fast because there’s a lot of competition to find an existing home. But when you build a home, he says the competition is eliminated.

You can drive up, get out and start your new life. Image: Artazum/Shutterstock

There are no renovation issues with a new build

Many homeowners purchase a home and then renovate it to fit their needs. “But they have to live in the mess of a renovation,” says Adam Helfman, Home Improvement Expert at Hire It Done. “Having no interruptions in your daily life is a huge benefit to buying a new home.” Also, some people don’t know where to draw the line when purchasing a fixer-upper and could end up with a money pit.

New build cons

Older homes may be built with better materials. Image: Pics721/Shutterstock

Older may be better

Although newer homes have new components and materials, newer may not always be better. “New homes today are generally not built as solid as old homes of yesteryear,” Helfman says. “Old homes had better bones. For example, a 2×4 in the 50s and 60s was actually 2 inches by 4 inches — whereas a 2×4 today is 1.75 inches by 3.75 inches.”

Recycling extends to houses. Image: Carol Franks/Shutterstock

Renovating is better for the environment

When you build a new home, you’re starting from scratch. “The environmental impact of building a new home is much higher than in buying an old home,” Helfman says. “Renovation is essentially a form of recycling.”

Also, homeowners have a tendency to focus on cosmetic features when buying a home and often choose a new build because of trendy extras. However, most cosmetic features — like architectural details — could be added to an existing home during a renovation.

Older homes can have lush, well-established lawns. Image: Sean Pavone/Shutterstock

Existing homes have more mature landscaping

Landscaping can cost a pretty penny and take a while to fully develop. “Older properties can come with landscaping benefits like mature trees to cast shade,” Helfman says.

Sidewalks and street lights are important. Image: Artazum/Shutterstock

Existing homes have established neighborhoods

If you’re building a home in a new area, it’s still in the process of being established. “Older homes come with the benefit of established neighborhoods with established communities and desirable features like street lights, sidewalks and neighborhood watches,” Helfman explains.

And there are other potential disadvantages to not being in an established neighborhood. “There’s a danger of purchasing inside a non-fully formed community where amenity costs were miscalculated,” warns Michael Kelczewski, a realtor with Brandywine Fine Properties Sotheby’s International Realty. “Also, homeowners may purchase during an initial development phase only for the developer to become bankrupt.”

Pray for sunny days. Image: Karamysh/Shutterstock

The new build timeline is subject to change

Unless you’re buying a new home that has already been completed, you could be trapped in a waiting game. “You won’t be able to move in until the home is completed,” says Menn. And he warns that weather-related construction delays are always a possibility and could extend the build timeline indefinitely.

The post The Pros and Cons of Purchasing a New Build appeared first on Freshome.com.

Don’t Waste Your Money on These Renovation Projects

August 3, 2019 by admin

When you’re thinking of renovating a home, it’s easy to go overboard and perhaps waste your money on projects that don’t have a significant return on investment. Aside from the ROI factor, some partial renovations may actually leave your home in worse shape. This is a particular concern when you buy an older home. Knowing where to draw the line with a fixer-upper can be a battle between your budget and your heartstrings.

Whether you have an older home or a relatively new house that you want to change, sometimes you need to reconsider some of your reno ideas. Below are a few examples that could waste your money.

<img width="550" class="wp-image-319479 size-full" src="https://freshome.com/wp-content/uploads/2019/04/Artazum-Shutterstock7.jpg" alt=""

Knocking down walls to create open floor plans

Open floor plans are all the rage and they can make an area look a lot larger. “However, there are consequences to knocking down walls that homeowners don’t always realize,” says Eamon Lynch, Director of Warranty Services at Power Home Remodeling in Philadelphia, PA.

Obviously, taking down a load-bearing wall is problematic. But even if the wall isn’t load bearing, Lynch believes that you should leave it alone. “The structure of the house was designed with that wall in place for a reason,” he explains. “Over time, the absent wall will have an effect on the structural integrity of your home, and this includes sagging external walls.”

Layer clothes — but not your roofing materials. Image: karamysh/Shutterstock

Installing a new roof without removing the existing layer

Because a new roof is so expensive, you may be tempted to do the bare minimum. But this strategy might come back to haunt you. “If you’re dealing with mold-like growth or a leaking roof, this means it’s time to replace the roof,” Lynch says. His company replaces thousands of roofs across the country each year and often finds that customers make the same mistake. “They tried to save time on roof renovations by installing new layers over an existing layer of shingles,” Lynch says. In the short term, this seems like a time-efficient and cost-effective choice. But when you layer your roof, it can lead to major problems in the future.

“If you don’t remove the original layer of shingles on your roof, you can’t see what problems may exist underneath, like soft spots on wood or separation,” he explains. Also, when you don’t remove the entire roof, he says you can’t replace or install flashing, pipe collars and drip edges. “These components are essential for keeping out rain and snow by serving as transitions at roof-wall intersections, chimneys and around pipes and vents.”

Another problem with layering: you can’t install proper ventilation. If you add new layers on top of old layers, you’re restricting airflow and your attic can’t breathe. “You’re trapping moisture and adding weight to the top of your house, which was designed to only support one roof, not multiple roofs.”

Don’t go overboard renovating your kitchen. Image: Artazum/Shutterstock

Major kitchen renovations

Any type of kitchen renovation is likely to be expensive, complicated and long. A major kitchen renovation multiplies all of these factors. But what’s your rationale for a major reno? “Think about the intention of the kitchen,” Lynch says. “For example, is cooking a big hobby of yours? Will the kitchen be primarily used for entertaining?”

Stop to objectively evaluate how the kitchen will be used. Then, Lynch says you can plan the most effective reno that will deliver a suitable ROI. “And if your main purpose for the renovation is to increase resale value, remember that a major kitchen renovation doesn’t increase curb appeal, which is the first factor that home buyers consider when they’re beginning the process,” he says. “Keep in mind that what you think will be ideal won’t necessarily be ideal to a potential buyer.”

A skylight could lead to problems. Image: Photographee.eu/Shutterstock

Adding windows to your home

Natural light is a very appealing quality in a home. However, Lynch advises against adding skylights to your exterior. “If your home doesn’t have a window or other type of opening, don’t put one in,” he says. “Creating a fenestration, an opening like a window or door, that wasn’t originally built into the building’s exterior can cause a range of new issues,” he says. These problems include loss of energy efficiency and increasing your chances of developing leaks.

Personal taste varies by buyer. Image: Studiovin/Shutterstock

Prioritizing vanity over value

It’s natural for homeowners to want to feel a sense of pride regarding their homes. “But oftentimes, homeowners fall into the trap of renovating for aesthetics. They neglect to address the less sexy renovation projects that are essential to the structure and quality of the building,” Lynch says. It may be more fun to renovate the master bedroom or add a sunroom. But Lynch says the greater ROI lies in fundamental renovations like siding replacement and roof repair. Especially now that savvy buyers don’t focus on cosmetic features.

And even though curb appeal is important to buyers, it’s also possible to go overboard in this area. “If your front yard is dead, water and fertilize it until it’s green,” advises Robert Taylor, Owner of The Real Estate Solutions Guy. He warns against spending thousands of dollars on sod and fresh plants. “The more expensive your renovation, the more likely you’re doing it to please your own personal tastes, instead of potential buyers.”

In fact, years ago, when Taylor first started rehabbing houses, he drove by an old property that he spent a considerable amount of money on, trying to restore the destroyed lawn. “I was shocked to see that the new buyers had torn out the lawn and poured a concrete slab over it,” he says. Since then, he’s seen others yards in which buyers have ripped up the existing landscape to create something to suit their own tastes. “It just goes to show that you have to leave what you personally like out of the decision process,” Taylor says.

The post Don’t Waste Your Money on These Renovation Projects appeared first on Freshome.com.

What No One Tells You About Flipping Houses

May 15, 2019 by admin

Learn the secrets of house flipping. Image: Perry Mastrovito/Getty Images

We love binge-watching house flipping shows while dreaming of tackling a flip of our own. House flipping can be fun, and sometimes profitable, but your favorite shows don’t tell you everything you need to know before you jump into your first flip. Here’s the lowdown on what you should know before you take on a house flip:

1. It can take a long time to find a house

Flippers and investors are scouring many real estate markets right now, looking for a good property to flip. There are entire companies dedicated to flipping homes. These investment firms employ scouts to find homes to flip in most markets. Expect to make several offers and wait months to find the right home.

2. You don’t need a weekend seminar to learn how to flip a house

House flipping seminars can be valuable and give you lots of inspiration, but even if you can’t attend one, you can still flip houses. You’ll still need to learn everything you can before you start flipping homes, though. Watching HGTV can inspire you, but you can’t see all of the details that go into a successful flip. You’ll need to learn about financing, permitting and marketing before your first project. If you surround yourself with professionals, they can provide you with knowledge that you can use on future flips.

3. A standard mortgage isn’t used for house flipping

When you’re ready for your first flip, you’ll need “hard money.” Potential flippers often ask online if they can use a long-term mortgage for flipping a home. The answer is “no.” Standard mortgages are structured and priced for long-term financing. You’ll need a loan that is designed for a house flip. Hard money lenders and investors are often project-based, rather than credit-based, so it may be easier to qualify for hard money as long as your potential flip meets their criteria.

Math is an important part of house flipping. Image: Natee Meepian/Shutterstock

4. Flipping a home is all about math

Be prepared to explain the ARV (after repair value) when you’re applying for a loan for your project. It won’t matter how amazing your vision is for the finished project; investors are strict about the bottom line. Your flip project must come in within that investor’s numbers or you won’t have a deal.

5. Timing is everything when you’re flipping a house

Your hard money loan can have a 6-month to 1-year end-date, after which you may incur penalty interest. Having an attorney review your contract can prevent expensive surprises later on. Unexpected construction hiccups are commonplace and permits can take a long time. Before you sign a mortgage with a short maturity, check with the local building authority to see how long the wait will be for permits. It’s not unheard of to experience a 6-month wait for permits in some areas.

6. Be prepared to account for every cent you spend on your flip

It’s crucial to keep your receipts, use a project tracking app and stay current on your budget. Your lender will ask for this information several times during your project as they release more funds to you. Spreadsheet skills are especially valuable for home flippers. Having detailed information on expenses and loan balance can help keep your funding flowing through each phase of the project.

Learn what buyers want before you plan your house flip design. Image: Artazum/Shutterstock

7. Step into the home buyer’s shoes

Buyers love neutral palettes and homes they can move right into, but don’t be a carbon copy of every flipped house in your market. For a few years, every flipped home seemed to have an aqua front door — now yellow is the most common color. Your goal as a house flipper is to create a home that doesn’t feel like a flipped home. If you have to make choices when you’re creating your budget, bath and kitchen remodels are buyer favorites.

8. There will be surprises

You won’t know everything about your home until you open a wall or remove flooring, but don’t let surprises derail your flip. Even in the most simple cosmetic flip, you will encounter complications. Make sure your budget has a contingency for surprises. Work to run your project efficiently so that you can handle whatever comes your way. You can weather any complication with a positive attitude and laser-focus on your long-term goal.

Choosing the right materials is crucial to a successful house flip project. Image: Severija/Getty Images

9. Your home’s tile work is more important than you think

Many beginning flippers miss the mark with their tile choices and installation. Choosing attractive tile for the kitchen and bathrooms can contribute to your flip’s buyer appeal. This is not the time for elaborate tile designs, crazy colors or to express your artistic vision. If you’re not experienced setting tile precisely, hire a pro to help. Buyers want a home that is move-in ready and don’t want to be faced with the expense and mess of redoing the tile.

10. Set a realistic budget

Make room in your budget to include specialty contractors if needed. (They’re usually needed on most projects.) Make sure you understand the laws in your area for permitting and using licensed contractors for some tasks, as it can cost you money and time. Hard money lenders will require you to submit a detailed budget and estimate of the work you’ll be doing, so be ready to pay a contractor to write this up. Their experienced eye can help you see exactly what needs to be done.

11. Flipping houses isn’t for everyone

If you’re not ready to take on a house flip, you can still use the same ideas and strategies to sell your own home. Approaching your home as a house-flipper would, you can create a fresh look that buyers will notice. Visiting open houses and model homes can give you inspiration for changes you can make in your own home.

The post What No One Tells You About Flipping Houses appeared first on Freshome.com.

10 Home Renovations You can Do in an Afternoon

May 12, 2019 by admin

Home renovations always seem like a great idea to start. When you’re six days in and covered in paint, however, major improvements start to feel expensive, time-consuming and draining. That’s because, when it comes to home improvement, it’s easy to bite off more than you can chew. Reality shows and websites make DIY seem so easy, which might be why you find yourself playing amateur electrician when you should have hired a pro.

The trick to home renovations is to know your limits. You don’t need a complete overhaul to see a huge difference in your place. In fact, a few afternoon improvements might be all it takes to really love your home or apartment. By choosing a couple of afternoon renovations, you can have the same sense of accomplishment without the time and expense of an extreme makeover. Here are a few of our favorite big impact, small effort renos.

Organized drawers keep your entire house tidier. Image: Myvisuals/Shutterstock

Organize your drawers

Let’s face it: we all have junk drawers. Some of us might have many junk drawers. And while a few disorganized nooks and crannies might not seem like a big deal, that disorganization can bleed into other areas of your home. Miscellaneous phone chargers, keys and other stuff have a way of cluttering up other surfaces, making your home feel messy. While you might not be able to devote weeks to a complete cleanout, simply organizing your drawers puts everything in its place. Head to the dollar store and load up on inexpensive baskets and organizers. Then, dump out everything from the drawers and don’t put anything back until it has a specific spot in your home. Nothing beats tidy, organized drawers — even if you’re the only one who sees them.

A bright door seems more inviting. Image: karamysh/Shutterstock

Spruce up your entry

Your front door is the first thing visitors notice about your home and it’s so easy to spruce it up in an afternoon. Painting your door a new color — or just repainting the same color — only takes about half an hour. While you’re waiting for the paint to dry for a second coat, clean up your porch and entryway. Get rid of old leaves and debris and add a welcome mat to match your new door color. Add planters with flowers or even sturdy faux plants. If you have extra time, swap out your porch light for something more modern before adding a second coat to your door. Then, step back and watch the compliments arrive with every guest.

Regrout and recaulk

Bathroom grout is one of those things that really shows your home’s age. Over time, the caulk and grout in your bathroom become dingy and yellow, and can even chip off and leave gaps. Regrouting and recaulking might not be the sexiest of home improvements, but it’s a quick fix that can make your entire bathroom look better. Caulking is simple: just pull out the old caulk with a scraper and add a new, clean bead with a caulk gun.

Regrouting takes a little more time because you’ll need to chip or grind down the jagged, old grout. Still, it’s a pretty simple process. Once the old grout is removed, you apply new grout to all of the tiles and then just wipe away the excess with a damp sponge.

Replace hardware

Hardware is one of those “set it and forget it” items in your home. You probably don’t even notice all of the handles and pulls on your doors and cabinets because you use them so often. But hardware can have a big impact on the look and feel of your home. If you’re itching for an update, hardware might be all it takes. Most cabinet or door hardware is swapped out easily with a screwdriver and an afternoon. Go for square pulls for a modern look or add more character with antique doorknobs throughout your home.

White cabinets brighten up the kitchen. Image: David Papazian/Shutterstock

Paint cabinets

If you don’t feel like hardware is a big enough change for you, think about repainting your cabinets. Installing new cabinets is a huge expense and takes a lot of time, even if you purchase them pre-made. The truth is that as long as the actual cabinet boxes are in good shape, you can remove the doors and paint them. Just make sure to use the right type of paint for your cabinets’ material (e.g.: wood versus composite) and prime your doors beforehand. The color of your cabinets makes a huge difference in your kitchen and bathrooms, so it’s a quick renovation that gives you a huge bang for your buck.

Wallpaper one wall for impact and a quick change. Image: Photographee.eu/Shutterstock

Create a feature wall

Sure, you could paint an entire room. But taping off walls, patching and painting takes forever. You can probably get the same impact by just choosing a feature wall. A feature wall just means only painting or wallpapering one wall in a room to add color, draw interest and give more character. It also only means painting one wall, freeing up a lot of time. Don’t like the idea of paint? Choose a graphic wallpaper and only use it on one main wall in a room. Today’s wallpaper is simple and less messy than the sticky stuff of yesteryear, so it’s an even quicker way to spruce up a room.

Switch your switches

Light switches are only about $1 each, making updating them one of the cheapest home renovations possible. Switches can start to look discolored and dirty over time, making even clean rooms look tired. What’s more, you can score smart switches that have USB ports, streamlining power in your home. You don’t need to be an electrician to swap your switches, but you do need to make sure to turn off your electricity before you start taking the plates off. Then, it’s quick work to screw on new plates. Don’t want to install new switches? Try painting them or using washi tape to add character without changing them completely.

Swap out heavy blinds for sheer curtains. Image: Photographee.eu/Shutterstock

Update window treatments

If you’re still living with cheap mini blinds or your home’s original vertical blinds, it’s time to update your window treatments. Swap out faded or damaged blinds for cool new bamboo shades or hang sheer curtains for privacy without losing light. Or, just update your plastic blinds for wood versions. Many home improvement stores can simply cut new blinds with your measurements and you’ll have updated windows without a lot of fuss.

Stick on a backsplash

A traditional tile backsplash can definitely be a major time and cost commitment. It’s not something you’d want to DIY unless you had experience with tile before since it requires precision and skill. Still, you can totally update your kitchen with a simple stick-on backsplash. New stick-on tiles look just like traditional tiles but are lightweight and easy to use. Check out stick-on metallic tiles or try an urban loft feel with easy brick tiles. A steady hand and a little time are all you need to completely transform your kitchen.

Try a new living room layout for a fresh take. Image: Breadmaker/Shutterstock

Rearrange your furniture

It’s probably the easiest afternoon renovation of all: simply rearrange your furniture. Chances are you put your furniture in your home on move-in day and haven’t done much since. But moving around your major pieces — especially couches, bookshelves and tables — completely changes the way you see your home. Try this: walk into your home and visualize what you would think if it were the first time you’d ever seen the space. Pushing the couch on a different angle or moving a table that could be more functional somewhere else breathes a little more life into a stale layout. The best part? If you don’t like it, you can always put your stuff right back where it was.

Home renovations don’t always have to be complete home overhauls. With a spare afternoon and a few extra bucks, some of your home’s biggest pain points can be completed resolved — or at least reduced. Adjust the way you think about home improvement and, suddenly, renovations become a lot less overwhelming.

The post 10 Home Renovations You can Do in an Afternoon appeared first on Freshome.com.

10 Times a DIYer was Smart to Hire a Pro

May 7, 2019 by admin

Get the most out of your DIY home improvement projects. Image: Photographee.eu/Shutterstock

We love diving into DIY projects at home. Even if you’re a total novice when it comes to DIY, anyone can tackle simple projects to enhance their home. No matter how experienced you are at working on your own home, though, there are times when it might be smart to bring on a professional to assist you. Here are the top 10 reasons you might need help:

1. Your DIY Project Uncovered Hidden Problems

Your home repair was supposed to be a quick fix. After researching the how-tos and assembling the right tools and materials, you dive into your project. Only to find it revealed another problem. Contact a professional when the situation you uncovered appears to be beyond your ability. Do the same if it’s just something you don’t want to deal with yourself. Your hired pro can advise you on the best solution to the new problem and if there are other issues lurking around the corner.

2. Your Friends and Family Have Favor Fatigue

We love our friends and families but, let’s be honest, we may have asked one too many favors this year. While you may be excited about tiling your bathroom floor, your closest friends may not be ready to spend their weekend that way. Last-minute cancellations and no-shows derail a DIY project. The day you counted on the help of friends and family can be awfully lonely. If your job cannot be accomplished by you alone, it may be wise to get an estimate from a professional, especially if your project must be done within a specific timeframe.

3. Your Home Repair Project Requires Tools That You Don’t Have

Some home projects require tools and equipment that you won’t need again. So, understandably, you’re hesitant to add that cost to your job. You may be able to rent the tools or equipment that you need, but you’ll want to do the math. See if it would be more cost-effective to hire someone to do that portion of the work (and bring their own equipment).

4. You Have a Deadline

We have the greatest intentions of completing a DIY home task quickly. But when it’s not your 9-to-5 job, life can get in the way. Your project may be set aside as other, more pressing priorities appear. If there is a deadline to complete the work, it can make sense to hire a pro to handle all or part of the job.

Take control of your DIY home improvement budget with professional help. Image: Hanohiki/Shutterstock

5. You’re on a Tight Budget

As a DIYer, there is pride and savings in doing the work yourself. If you have a limited budget for a home improvement, though, you may actually save money by hiring the right professional for the job. All home projects can suffer from “project creep,” which is when your budget and scope grow as the project drags on. Hiring a contractor or designer can help you keep your budget under control.

Decide which DIY projects you may want to outsource. Image: Elnur/Shutterstock

6. You’re Not Comfortable With Your Skills

Did you see a DIY project on TV that you’d love to do in your own home, but the skills required are out of your comfort zone? Home improvements are not the best way to try out new skills. Inexperience can end up costing you more than hiring a specialty contractor to complete the work. The right pro helps you figure out what aspects of the project you can handle yourself and what is best left to them.

7. You’re Stuck on Your DIY Project

Not sure what to do next? It’s totally common for a DIY project to stall because of indecision or the sudden realization this is beyond your skill set. It’s possible to hire a professional to take on part of your DIY project and hand it back to you to finish.

8. You’re Fixing Another DIYer’s Mistakes

Well, this is awkward. That gorgeous built-in media cabinet that sold you on your new home turned out to be a structural nightmare. There may be no quick-fix for some of the well-meaning DIY fails in your home. Plus, trying to DIY your way out of them may make things worse. If the problems you need to correct are electrical, plumbing or structural, a professional can help you fix them the right way.

Your DIY project can help or hurt you when you sell your home. Image: ImageFlow/Shutterstock

9. You’re Selling Your Home

If you are fixing up and repairing things at home before you sell it, you’ll want to be honest with yourself about your abilities and experience. Home buyers will be less open to decorative DIY projects that are very personalized to your taste. A buyer’s home inspector will be going over your home carefully, so every repair needs to be done perfectly.

10. You’re Procrastinating the Start of Your DIY Project

Have you been putting off a DIY project at home? It’s possible that you just don’t feel ready to tackle the job and that’s why you haven’t been able to start. Your procrastination could mean that it’s time to talk to a professional to see if this DIY project would be better for a pro to complete.

The post 10 Times a DIYer was Smart to Hire a Pro appeared first on Freshome.com.

When Buying a Fixer-Upper, Where Should You Draw the Line?

March 22, 2019 by admin

When you find a great fixer-upper, it can be difficult to determine if you should put an offer. You want to restore the home to its natural beauty — especially if it comes at a good price. However, you need to weigh the good, the bad and the ugly before making a decision.

Weigh the pros and cons of purchasing a fixer-upper. Image: Hero Images/Getty Images

“Fixer-upper, remodeling and design shows have attracted large audiences and have romanticized the process to the point that buyers and homeowners believe that it is not a big deal to create their dream home,” says Karen Kostiw of Warburg Realty in New York, NY. However, she says these reality shows don’t provide the guidance you need to decide on a fixer-upper. If you’re transforming your basement, adding rooms and making other changes to the home’s footprint, there’s a lot to consider.

The advantages

You can create the home of your dreams with a fixer-upper. Image: zazamaza/Getty Images

“One of the most important factors when considering a fixer-upper is whether you can customize the home to your design aesthetic and functionality needs at a lower purchase price than an already renovated home,” Kostiw says. “Typically, you can purchase a larger home with the same purchase budget [when you choose a fixer-upper]. That home can be purchased in a more desirable neighborhood due to lower cost,” she adds. Kostiw says that today’s buyers are more likely to want new or updated homes. There’s less competition if you want to buy a fixer-upper.

The ability to create the home you want in a desirable neighborhood can’t be overstated. “The homeowner has control of the entire process. As long as it’s planned ahead, much of the home can be customized to the exact needs of the homeowner, from adding architectural details to custom cabinets and flooring to an open floor plan,” says Brad Little, President of Case Design/Remodeling in Charlotte, NC. And while it may initially seem like a daunting task, he says it really isn’t. “A remodeling firm or contractor can help you plan your whole house remodel from blueprints to final presentation.”

The price factor

Assume that you’ll go over budget. Image: Hanohiki/Shutterstock

When buying a fixer-upper, you’re competing in a different arena. “Fixer-upper purchasers must compete with builders and investors, which will drive up the purchase price,” Kostiw explains. And she says you may need to be a cash purchaser since some lenders will not approve a fixer-upper property.

Kostiw also says you should prepare to spend at least 20 percent over budget during the renovation. That’s why you need to create a fixed budget before work begins. “Be firm on the final cost you’re willing to invest before renovations begin or the project can quickly get out of control,” Little warns.

He also recommends knowing and prioritizing your needs. “Remodel for your must-haves first, and then your maybes,” Little says. “In a fixer-upper, it’s tempting to want to do everything immediately. But starting with the must-haves will give you a better idea of what you could do without.” For example, your heart may be set on a farmhouse sink. But, according to Sara Cannon at House Heroes, you may not be able to preserve the existing cabinets with this type of sink since it requires a cutout.

And when the renovation is over, there are other long-term expenses to consider. “Fixer-upper purchasers often do not consider that their real estate taxes will increase based upon new assessed post-renovation value, shocking their all-in monthly budget,” Kostiw says.

The time/money/inconvenience factor

Delays are inconvenient and costly. Image: skynesher/Getty Images

Depending on how extensive the renovations are, it could take a while. So consider the time factor in your decision. “The purchaser must be prepared for long and expensive renovations and longer timelines than originally planned,” Kostiw warns. “Often, if a large amount of work is required on a home, a purchaser may not be able to move in until work is complete, which could take six months or longer,” she says. Would you have somewhere to stay if the home is uninhabitable? Would you be able to juggle two mortgages, or a mortgage and rent payment? What about living with your parents or in-laws for several months?

The fixer-upper shows fit projects into 30-minute or 60-minute time frames, so they don’t cover everything that goes into renovating a house. “Many of the shows do not highlight the permit process or the reality of workers not showing up, which delays a project timeline,” Kostiw says. And these delays create a ripple effect. “The expense of labor and labor delays, product changes due to construction materials out of stock or a serious unexpected issue that arose on the job site could contribute to costing more than buying a new or already renovated home,” she says.

Your home may be uninhabitable during the reno. Image: Hero Images/Getty Images

Remodeling on your own

And if you plan on remodeling without the help of contractors or a remodeling firm, Little says it can be almost overwhelming. “Signing on the dotted line is just the beginning since all of the labor and project management responsibilities fall on the homeowner,” he says. “If any surprises come up that weren’t found in the inspection, the homeowner is responsible for addressing them, either personally or through a contractor/remodeling firm.”

There are other inconveniences that could prove to be costly. “If there’s a lot of drywall work involved, there will be drywall dust everywhere,” says Shawn Breyer, Owner of Breyer Home Buyers in Atlanta, GA. If you or your family members have asthma or allergies, you might not be able to stay in the home.

“Also, renovating the bathrooms will leave you using the bathroom across the house or without a useable bathroom for a few days,” Breyer adds. “Rewiring the house can leave you without power in portions of your house for weeks. So make sure that you’re prepared to live in a construction zone or have plans for living somewhere else.”

Knowing When to Draw the Line

Don’t over-improve for your neighborhood. Image: Ceneri/Getty Images

The key to successfully renovating a fixer-upper lies in the ability to envision the end result before you start, according to Associate Broker Amber Ketchum at the Get Happy at Home team of Coldwell Banker Bain. “You must weigh the pros and cons before deciding if something is worth it or not,” she says.

For example, if you have to move walls or do a complete add-on, this will dramatically increase the cost, according to Chelsea Allard, VP of Design at Case Design/Remodeling in Charlotte, NC.

“Plumbing can also create large snags in the cost or process, so it is essential to find out where the plumbing already is and know where you want to add plumbing,” Allard says. For example, if you want to add a bathroom with a soaking tub on the second floor — but on the opposite side of the house — she warns that this will increase your reno costs.

Also, you don’t want to over-improve a home. “If the home is renovated and it is over and above the value of the neighboring properties, you will never get its true value,” says Ralph DiBugnara, President of Home Qualified. “It would be best to look at the homes you like in the area and stick to some parameters when improving your home. You do not want to own a White Elephant.”

Before and after photos of a kitchen reno. Image courtesy of Case Design/Remodeling.

Making it all worthwhile

However, the end result of renovating a fixer-upper can be rewarding, as you can see in the before and after photos above. “This project was a waterfront lake house that the couple bought for the lot. When they purchased it, the previous owners had gone overboard with a DIY Tuscan theme,” explains Allard. “The clients were slowly redoing the entire house bit by bit to match it with their contemporary design style.” Allard says the company helped the homeowners to renovate the kitchen, powder room and bar.

The post When Buying a Fixer-Upper, Where Should You Draw the Line? appeared first on Freshome.com.

Underutilized Spaces: Getting the Most Out of Your Home

November 5, 2018 by admin

Let’s face it: some of the areas of your home can feel like an afterthought. After all, it’s not like you’ll be showing your linen closets off to your guests. But just because a space isn’t Pinterest-worthy doesn’t mean it should be any less functional. In fact, some of the underutilized spaces in your home can actually become the most useful. By thinking outside of the box, you can turn what seems like wasted space and dusty corners into your favorite places in your home. Here are some ideas to help you look at every nook and cranny a little differently.

Use stair space as a play area. Image: Elena Del Bucchia Design

The Space Under the Stairs

The space under the stairs is typically ignored or drywalled. But, with the right repurposing, it’s valuable square footage. Before you opt to drywall that empty area, consider making it into a kids’ play area. It might not be a great space for adults, but it’s the perfect area to set up with toy storage, or even to create a playhouse.

No kids? The space under the stairs can make an ideal mini-library. Installing simple shelves means your favorite books stay dry, organized and easily accessible.

Turn a messy mudroom into a homework space. Image: Jim Schmid

The Mudroom

The mudroom is one of those spaces that you can’t live without – but don’t really want to see. It can become a dumping ground for backpacks, coats and shoes, so put it to work: rearrange to create a homework nook. If your kids tend to dump their backpacks there anyway, a small desk with supplied and dedicated study space makes sense. It’ll keep the endless papers and pencils out of your main living space and give kids a quiet place to work that’s still close to the action.

Keep blankets and sheets at the foot of each bed. Image: JCD Custom Homes

The Foot of the Bed

There’s nothing like your own bed – unless it’s the foot of your own bed. This underutilized space is ideal for solving storage problems, especially if your home is short on closet space. A hinged ottoman becomes the perfect place to put on shoes and can help stash away blankets, sheets, clothes and any other quick-access items. Or, add a desk and chair for study space that won’t fit on any of your walls. Rethink the space at the foot of your bed as functional square footage and it becomes more than just a place for your socks.

Double up by using your guest room as an office. Image: California Closets

The Guest Room

If you’re lucky enough to have a dedicated guest room, you know how great the space can be. But while it’s an ideal place for friends and family to crash, it can sometimes go unused. Instead of keeping one room as just a guest space, double up on functionality so you can use it when you’re home solo.

Turn your guest room into a sleek office part of the time, or store craft supplies in the guest room closet for when you’re feeling creative. There’s no reason to leave an entire room unused except for when you have house guests. Be a little selfish and use the room for yourself the rest of the time.

Think beyond linens for functional storage. Image: ClosetMaid

The Linen Closet

Most people would say the linen closet is one of the most underrated spaces in a home. But that doesn’t mean you have to fill it with linens and blankets. If you’re able to store extra blankets in bins underneath each bed, you’ll free up an entire closet for things that make more sense to you. Whether it’s outfitting your linen closet as bathroom storage for products and towels or making over your closet as a storage pantry, think beyond sheets when rethinking your linen closet.

Look up for great storage space. Image: Ike Kligerman Barkley

The Space Over Doors

Look up! The space over each door in your home is a treasure trove for storage and decor. With simple shelving solutions, you’ll find a totally new space to store books or to show off souvenirs and decor items that don’t have a home elsewhere. Simple, straight shelving is easy to install and remove and can add plenty of character to an otherwise stark hallway.

Think of your garage as a multifunction space. Image: Garage Solutions

The Garage

Bikes, trikes and tools: oh my! The typical garage is a catch-all space for anything you don’t want in your house. But it can also be valuable space for other interests. With the right storage solutions, you can get larger items off the ground, opening up precious square footage.

Store bins up in your garage trusses to get rarely used items out of the way. Then, use wall hooks to keep bikes and gear organized. With your new floor space, you could have a great indoor gym, a lounge, a rec area for rowdy kids or even a music studio.

Sure, there are other spaces in your home that are more photogenic and fun. But underutilized spaces can be some of the most functional places in your house. By thinking beyond the usual, you can create storage, work and living spaces that make sense for you and your lifestyle. Get creative and you’ll learn to love every inch of your home.

The post Underutilized Spaces: Getting the Most Out of Your Home appeared first on Freshome.com.