What is the Cost of the Project??

Pricing the Project

Ah!  A fresh new year has started!   All your resolutions may already be busted as it is January 5th already.  I don't make resolutions but I do make plans.

One of the most common plans discussed in January are the home improvement projects planned for a given year.  I am sure 2015 will be no different for many of you.

Only need to look at the home improvement retailers Christmas ads and present January ads to know they are expecting lots of wood to be cut and counters to be installed.

I have seen now lots of classes for installing fences, bathrooms and kitchen counters, tile flooring, etc.

Yet as you plan, project costs get to be important.  As a Realtor, I see too many half completed or poorly done projects due to poor planning and perhaps cost planning.

This article from Better Homes and Gardens does a nice job helping with your planning process.

Please read and then GET TO WORK!!!

Make Over Costs

Value of Buying Rehabilitated Homes

Value in Rehabilitated 

Homes

 In watching HGTV and other similar "home" cable networks, home buyers can get the mixed message on purchasing a fixer upper or a rehabilitated home.

Though Realtors like me are always connected with great reliable contractors, many buyers are not economically fit to purchase a home and have the financial ability to pay for renovations.  

Another group of buyers seek a well built home at a good price but have no interest or ability to renovate a house into a home.

For these specific groups and those buyers that want that "new construction" feel, rehabilitated homes can really be the ticket!!

These rehabilitated homes can be single family homes

Or can be town homes or condos should the buyer seek less yard or exterior maintenance.

One of the main advantages of rehabilitated homes
is that a nice upgraded kitchen will not only have the pretty granite counters and great upgraded

cabinets but also brand
new plumbing and electrical.   In the older homes that many 1st Time Home Buyers and value-conscious home buyers seek, these "hidden" benefits are what bring extra value to the new home feel of the rehabilitated  home

In addition, the new roof, new windows and new HVAC that are common to rehabilitated homes grant the home buyer a secure feeling that "big ticket items" are and should be in good shape.
This becomes important so when they are ready to move up or move out of the area that the house will pass a home inspection without the big ticket items being a possible issue.

Speaking of home inspections,  rehabilitated homes come with lots of benefits that can permit a buyer to feel that the 1977 home being purchases is as good a "New".   Yet, the buyer should not simply buy on "feelings".  A through home inspection, though only a visible inspection, can ensure a home buyer that the seller didn't fail to complete a task or missed a needed improvement that the home buyer may never know about until they sell the home.   

The typical buyer should never wave the right to a home inspections.   Investment buyers can be a different story.

In conclusion, rehabilitated homes can be a great choice for value conscious home buyers and 1st Time home buyers with out the capital to complete renovations, lack the interest or desire to do the renovations and/or seek a "new" move in ready home on the "cheap".

Remodeling Impacts the Economy

Often in Finacial Reports, much emphasis has been given to the "housing market" or 'real estate market' being a drag on GNP(widest measure of economic activity), until recently anyway.

Though buyers are buying more homes so that sellers can move to their 'new' home,  another facet of the improving market is the uptick in home remodeling.   No doubt if the home you live in meets all your family's or your personal needs other than a wider shower, for example, remodeling is the go to activity.  Thus, the improving trend in remodeling bodes well for the "housing market" and the broader economic climate of the U.S.

JUST IN! 2013 COST VS. RETURN ANALYSIS ON HOME IMPROVEMENTS

This month sees more remodeling projects getting hatched than at any other time of the year. Like any investment, due diligence is required to make sure  your expected outcome meets your requirements. When it comes to major or minor remodeling projects most homeowners think they will break even at selling time. Many wrongly feel that adding the in-ground pool will make the home more marketable. There is a huge amount of data to consume and the fastest way to get at your local data is by clicking on your closest covered city in the pull down window on: Here is the Widget ( large)  another way of getting it.... http://www.remodeling.hw.net/2013/costvsvalue/national.aspx Courtesy of Al Clark:Home Action News letter