Quick Tip Tuesday: 7 Money-Pit Projects

As always, you want to be careful how you spend your money. If you don’t spend it wisely, you’ll be thinking about what is a good long term investment. These 7 projects aren’t!

 
 

#7 – Built-in Aquariums

“Built-in aquariums look stunning, but they can also turn off potential buyers. Sure, they add a touch of luxury, but not everyone wants to deal with the upkeep. According to Daniel Fries, Atlanta, GA based home appraiser, it’s just not a practical investment. Aquariums top the list of improvements with poor return on investments.”

 
 

#6 – Built-in Electronics

“At the rate that new technology is growing, today’s shiny new gadget quickly becomes a thing of the past, which makes built-in electronics a bad investment. They tend to dominate the room, and if not properly soundproofed, can impact adjoining rooms.”

 
 

#5 – Eliminating a Bedroom

A walk-in closet and expanded master bath is a selling point, but only if that space isn’t hijacked from a third or fourth bedroom. The rule of thumb when renovating is to stay within neighborhood standards. If the neighborhood norm is three bedrooms, a two-bedroom house is at a severe disadvantage.”

 
 

#4 – Over-Improving the Basement

Below-grade improvements never pay back as much as renovations or added upstairs. Compare the cost of a finished basement to renovating the attic, adding a dormer or even raising the roof, before committing to a high-end basement remodel.”

 
 

#3 – Expansive Outdoor Renovations 

“Outdoor kitchens with grills and wood counters can be used up to ten months a year in warmer climes, but further north, a fireplace would be a much cozier investment. Make sure your renovations are appropriate for the area. As you calculate your project budget, keep the total tab no more than 10% of the current value of your house. If you spend more, count the payback in terms of personal enjoyment.”

 
 

#2 – Home Offices

“Even though more and more people work from home, adding in a home office is generally not a good idea. Buyers may be turned off by a room that can no longer function as an extra bedroom. If you already have a home office, keep the area basic, a desk, chair, and good lighting. Potential buyers should be able to easily visualize the room being utilized for another purpose.”

 
 

#1 – Pools, Hot Tubs, Spas, and Luxury Showers

“Much like the built-in aquarium, these novelty amenities will only attract a limited number of people. In most scenarios installing a pool or hot tub will not help increase the value of your home. It does add a luxury value, but you will most likely not regain your investment.”

 
 
 

Via MSN Real Estate

The Advantages of Ye Olde Historic Homes

Owning a home in a neighborhood that dates back for over fifty years – even up to a hundred years – can be a real pleasure for discerning homeowners. Generally, the entire neighborhood offers a unique sense of charm and cohesiveness, with homes from the same era displaying architectural styles, ornamentation, and details that have since disappeared but are recognized for their historic merit. According to city-data.com, such a neighborhood is Highlands whose homes were constructed in the 1930s and 1940s (with some in 2000).

 

Often historic homes and neighborhoods qualify for historic designation status. Several criteria determine if a neighborhood can be deemed a landmark:. When done properly, historic designation can save buildings whose architecture is significant, or whose inhabitants contributed to the history of the area in some significant way (Paul Revere’s home), or can protect an entire area (historic college campuses). Historic designation also confers value to a property.

 

However, owners of historic homes often are restricted as to the changes they can make to building exteriors and grounds (although interiors, plumbing, electricity, insulation, etc. are all fair and intelligent grounds for updates); these buildings also require a fair amount of maintenance. Still, homeowners of ye olde historic homes enjoy a mix of the delightful aesthetics of the past, the interior conveniences of the present, and the knowledge that their property values are very secure.

Weekly Snapshot: Highlands Nov. 13 – 19

DenverSnapshot

 

For information on what’s newly listed or just sold in your neighborhood, click on the link below.

 

Lower Highlands

New Listings – 5

Sold – 6

 

West Highland

New Listings – 1

Sold – 4

 

Sloan’s Lake

New Listings – 4

Sold – 4

 

Sunnyside

New Listings – 4

Sold – 2

 

Berkeley

New Listings – 5

Sold – 6

 

Have any questions? You can reach us at 303-543-3083 or clientcare@8z.com.

 

Quick Tip Tuesday: 9 Bathroom Renovation Ideas

When you go to do renovation on your home, it’s always a good idea to think about resale value. “What is going to be attractive to potential buyers when I go to sell my house?” Let’s take a look at 9 bathroom renovation ideas that consumers are looking for!

 

1. Heated Ceramic Tile Flooring

People love ceramic tiles in the bathroom, but the problem is they can be so damn cold! That’s where the heated part of the renovation comes in.

A typical system uses about the same amount of electricity as three 100-watt incandescent light bulbs. Plus, radiant heat is often more efficient than forced-air heating because it eliminates heat loss through the ducts, says the U.S. Department of Energy. It also distributes heat uniformly across the floor, taking less time to warm a room than other types of heat.”

 

 2. Curbless Walk-In Shower

Curbless showers are becoming more and more popular. They are good for all ages (young and old) as there is nothing to trip over, but if you plan on this renovation, just know that you’ll have to remove old flooring and subflooring and alter the framing underneath the floor to create the proper slope for the drain. In the end, though, I think you’ll love it.

 

3. Quartz Countertop

“It’ll look good year after year. Plus, the surface is so impervious bacteria can’t lodge in it.”

 

4. One Big Sink Instead of Two Small Ones

long-sink

“Establish your individuality without losing your bond with a large (38-inch or more) sink ($350 to $1,200). One big sink saves more counter space than two, and still lets you both wash up simultaneously.”

 

5. Single-Hole, Motion-Activated Faucet

“Motion-activated, touchless faucets shut off automatically so you’re not running the water continually, like when you’re brushing your teeth, which saves a significant amount of water,” says NKBA president John Petrie.

 

6. Humidity-Controlled Exhaust Fan

“But who wants to open a window in winter to get rid of excess humidity? Get a fan with a humidity-sensing on/off switch. It’ll turn on when moisture levels are high and automatically shut off when things return to normal. That keeps mold at bay, ensures you’re not sucking out air-conditioned or heated indoor air, and prevents the fan from using power long after it needs to.”

 

7. High-Efficiency, Dual-Flush Toilet

“A high-efficiency, dual-flush toilet reduces water usage and appeals to any buyer looking for a cost-effective home.”

 

8. Pocket or Sliding Barn Door

“The floor area of a bathroom is precious. Why waste any with a swinging door that eats up some 14 square feet of space? A pocket door or barn door slides out of the way without requiring any clearance, leaving more room for storage and design flexibility.

Google Trends shows that interest in sliding barn doors hovered at a lukewarm rating of about 40 from 2004 through 2011, when interest upticked to 70 before reaching an all-time high of 100 just last year — the highest possible rating on the Google interest scale.

The sliding door phenomenon partners neatly with sustainability: old, salvaged doors of all kinds make showpiece barn doors for your bathroom.”

 

9. Calm Colors

Bathrooms are often a sanctuary for people. They want their bathroom to be spa-like. This means calming colors. “The NKBA says gray is the trendiest color for baths these days, so you win on two fronts, for now.”

 

 

Via HouseLogic

 

 

Infographic: November 2014 Market Update for Sloan’s Lake

 

Sloan's Lake - Denver, real estate infographic

 

Sloan’s Lake real estate market is still hot!

 

This 3 month Hotsheet which includes stats for August, September and October shows that both Single Family Homes and Condos/Townhomes are moving very rapidly.

 

Sloan’s Lake continues to gain momentum as a wonderful place to not only buy a home but to INVEST! Invest as a homeowner and/or invest in renovating a property. Why? Well, the obvious is that the market is up and financing options are fabulous! And Sloan’s Lake has a great location [with a lake, yes], but so close to everything… zip to the airport, the mountains or downtown. Sloan’s Lake remains better pricing that West Highlands and continues to grow in popularity. So get going and come take a peek!

 

We are entering a slower market during our Winter months, but buying and selling in the winter months can be beneficial. I have 12 distinct points I am happy to share with you.

 

Follow on Facebook at Highlands Pulse!

 

 I am only a call or email away from providing you assistance. I’d be more than happy to discuss the current market’s activity, show homes from the current inventory and help you with any of your real estate needs in the neighborhood. You can always reach me at 303.883.5856 and Brenda.Meyers@8z.com.

Weekly Snapshot: Highlands Nov. 6 – 12

DenverSnapshot

 

For information on what’s newly listed or just sold in your neighborhood, click on the link below.

 

Lower Highlands

New Listings – 1

Sold – 2

 

West Highland

New Listings – 1

Sold – 3

 

Sloan’s Lake

New Listings – 2

Sold – 5

 

Sunnyside

New Listings – 5

Sold – 0

 

Berkeley

New Listings – 1

Sold – 3

 

Have any questions? You can reach us at 303-543-3083 or clientcare@8z.com.

 

Weekly Snapshot: Highlands Oct. 30 – Nov. 5

DenverSnapshot

 

For information on what’s newly listed or just sold in your neighborhood, click on the link below.

 

Lower Highlands

New Listings – 6

Sold – 2

 

West Highland

New Listings – 3

Sold – 6

 

Sloan’s Lake

New Listings – 2

Sold – 5

 

Sunnyside

New Listings – 3

Sold – 8

 

Berkeley

New Listings – 2

Sold – 9

 

Have any questions? You can reach us at 303-543-3083 or clientcare@8z.com.