A house therefore must be regarded as an investment, not just simply
as a home, with one eye on the real estate market.
remodeling Contractors and
homeowners alike would prefer to believe that every dollar spent
on a house automatically adds to that home's value; unfortunately,
that is not the case. Different projects will bring back different
amounts of dollars.
So
which improvements will attract a potential home buyer and therefore
give you the best return? What
home remodeling project will be a good
investment in your family's quality of life now?
What
is a good value in
home remodeling? For most, it's the best quality
at the cheapest price, period. But the fact is, there's a lot more
you need to consider:
The
Product • Cost at time of purchase • Long term performance
• Maintenance
• Health effects • "Green" product (environmentally
friendly)
The
Work • Functional layout • Attractive • Skillful
craftsmanship • Code approved
At
least four more factors should be added:
•
The location • The property • The neighborhood (don't
over improve your house compared to nearby houses) • Demand
(subject to uncontrollable circumstances, like ongoing and upcoming
trends, economy, supply, etc.)
The
following is a very partial list of items that are currently in
demand and promise to stay that way for the rest of the 90's and
the next decade.
General
Design & Layout
• Airy, bright rooms (particularly kitchen, bathrooms and family
rooms) • Kitchen, dining room and family room visually open
(now being labeled as kitchen/eat-in/family space) • Large
master bath • Home Office • Guest room • Media room
• Exercise room • "Play room" • Bigger
laundry room with plenty of counter space and "a place where
the ironing board can stay up at all time" • "Super
organized" walk-in closets • Three-car garage (also well
organized) • Window walls (windows, windows and more windows)
• Skylights • Glass blocks • Vaulted ceilings and
exposed beams • Curved walls and archways • Fireplaces
• Phones jacks in every room • Wood floors in almost every
room.
Kitchen:
• Mini office workspace (equipped with computer) • Island
• Walk-in pantry • Double sinks • Stainless steel
or restaurant grade appliances • Ceramic, granite or tumbled
marble countertops and backsplash • Earth tones ceramic or
Mexican tiles flooring • Wood floors.
Bathroom
• Larger, much brighter (with the help of skylights and/or
large architectural window and/or glass blocks) • Separate
tub and shower • Double bowls vanities • Jetted tubs for
two • Custom tiled walk-in shower with built-in bench •
Earth tones and/or tumbled marble tiles • Heated floors.
Master
Bedroom • Slightly smaller to accommodate his-and-hers larger
closets and dressing areas • Parlor • Separate sitting
room with TV and/or workspace • Fireplace • The latest
trend:
"The Morning Bar".
Exterior
• Stucco, stone, brick or cedar siding or shakes • Architectural
shingles, fiber cement, tile or slate roofing • Redwood or
cedar decks • Tree fencing.
Electrical
• Home automation • Halogen recessed lighting & track
lighting • Commercial ceiling fans • "Decora"
style switches, dimmers, outlets and jacks • Solar powered
exterior lighting.
Mechanical
• Earth coupling heating and cooling pump • Central heating
& cooling
• Heated floors • Central vacuum • Central Alarm.
Framing
• Engineered wood products • Steel framing.
What's
Out:
For different reasons the following items, or even rooms, are not-so-good
investments: • Wall to wall carpet • Vinyl tiles •
Vinyl sheet ("linoleum") • Wallpaper • Paneling
• Flush hollow core doors • Storm windows and doors •
Through the windows air conditioners • Ceiling tiles •
Suspended ceilings • Marble countertops • "Solid
surface" countertops.
When
it comes time to
home remodel, if you have all the right "ingredients",
you're not going to spend a single dollar; you'll be investing it.
Your
house is your most valuable asset; treat it right, it will become
your best investment. And even if you end up not ever selling your
home, you will still make a good investment: in your family's quality
of life now!
