How to Invest: Home Remodel Trends


CM How to Invest Remodel lg

On April 1, the Texas Association of Realtors released the 2015 edition of their Texas Remodel Valuation Report. For those of you considering a remodel in your home, it’s time to tune in and listen up.

 

In this report, TAR outlines a most profitable home remodels based on recoup costs of more than 20 different projects in 2014. These are further broken down by profitability nationwide, marketwide, and in four Texas cities. Here’s a quick summary of the projects that will get you the most bang for your buck in the Texas region, Dallas, and nationwide:

 

Regionally:

Curb Appeal is King: Nationally and in Texas, projects that boost curb appeal have the best return on investment, or ROI. Replacing the entry door, garage door, siding, windows, and roofing all ranked highest on this list.

Practical Remodels: Projects that improve a home’s functionality or sustainability were among the most profitable for the second year in a row, significantly more so than upscale remodels and additions.

Increase Livable Square Footage and Sustainability: Basement remodels, wood deck additions, and backup power generators were also popular.

 

Dallas:

5 Most Profitable: Roofing replacement, vinyl window replacement, basement remodel, steel entry door replacement, garage door replacement

5 Least Profitable: Sunroom addition, home office remodel, fiberglass entry door replacement, upscale garage addition, upscale composite deck addition

 

Nationwide:

5 Most Profitable: Steel entry door replacement, stone veneer accent, midrange garage door replacement, siding replacement, and upscale garage door replacement

5 Least Profitable: Sunroom addition, home office addition, upscale master suite addition, upscale garage addition, midrange bathroom addition

Getting the Best Bang for Your Buck


If you’re an avid reader of our blog you know that first impressions are of major importance when selling or buying a home. With this in mind, we’ve compiled a list of ways to get the best bang for your buck, whether you’re selling your home now or trying to increase the future value of a home you’ve purchased.

Getting the Best Bang for Your Buck

Landscaping: Create a fresh look with green landscaping, pops of color, and new mulch. Try to add levels of height if you have the space, this gives a very manicured look.

 

Getting the Best Bang for Your Buck

Outdoor Lighting: Go big or go home. Illuminating your house is one of the most inviting things you can do, so install large-scale exterior lights to dress up the front door. Lights should be sized to reflect the scale of the front of your home, not just the space around the door.

 

Getting the Best Bang for Your Buck

Kitchen Cabinets: If you have old cabinetry consider refacing or repainting, a choice that will depend on just how weathered your cabinets are. This update will completely change the look and feel of your kitchen.

 

 

Getting the Best Bang for Your Buck

Kitchen Appliances: If you’re willing to update your dated, dingy appliances, invest in replacements that match in color. It’s off-putting for a buyer to see a white stove, a black microwave, and a stainless refrigerator all in the same space.

 

Getting the Best Bang for Your Buck

Bathroom: Say goodbye to pink toilets, blue bathtubs, and green tile. The best thing you can do for the value of your home is to bring all the fixtures up to date. Hint: White is almost always a safe bet in the bathroom. It’s easily cleaned and gives the illusion of more space.

 

Getting the Best Bang for Your Buck

Expose Hardwoods: Is there hardwood flooring under your carpet? Pull it up, refinished it, and your realtor will love you forever. Hardwoods sell. And when we say hardwoods, we mean it. Laminate floors aren’t fooling anyone, so don’t spend money just to fake-out buyers.

 

Getting the Best Bang for Your Buck

Clean, Clean, Clean: If it’s dirty, clean it. If it’s broken, fix it. If it’s crammed, box it. Buyers are looking for loose knobs, dirty carpets, and crammed closets, so give them a reason to be pleasantly surprised.

 

Getting the Best Bang for Your Buck

Painting: We’ve already filled you in on the best tips, but let us add some more. If you’re planning to stay in your house, feel free to jazz up the walls with a splash of color, but be mindful that you should bring back the neutrals when it’s time to sell. If you’re going to wallpaper, keep the same tip in mind. While it may seem like a quick fix to you, not much turns a buyer off more than a full on red bedroom or dated floral wallpaper.

 

Home photos via ebby.com & Shoot2Sell: 3515 Hickory Grove Lane, Frisco (Landscaping); 2171 Hogan Drive, Irving (Outdoor Lighting): 5995 Beacon Hill Drive, Frisco (Kitchen Cabinetry); 7017 Yamini Drive, Dallas (Kitchen Appliances); 12744 High Meadow Drive, Dallas (Bathroom); 7731 Rolling Acres Drive, Dallas (Expose Hardwoods); 732 Lexington Ave., Coppell (Clean, Clean, Clean); 509 Prescott Drive, Garland (Painting)

 

 

7 Wise Ways to Start a Renovation


home-improvement-2

If you’re planning a renovation at your home, no matter how small, you need to take some time to prepare. Follow these seven tips to make your home improvement project as successful as possible.

 

1. Don’t expect perfection: Contractors, designers, bricklayers…they’re all human. Prepare mentally by realizing ahead of time that you’re probably going to hit some little bumps on the road. If you’ve done your due diligence, the expert(s) you’ve hired will come through for you.

 

2. Set a budget: It’s never smart to think you’ll just figure it out along the way. Talk to the people you’ve hired and work out a budget and payment schedule. If you decide to make a splurge purchase or two along the way, that’s fine, but having a planned budget from the beginning will help you reign in costs.

 

3. Don’t hire the cheapest labor: You get what you pay for. Interview multiple companies/experts before you choose your renovation partner(s). And remember, the lowest bid isn’t usually the best.

 

4. Keep calm: Try to keep your cool when hiring and working with professionals. Your attitude towards them and their work can affect the outcome of the renovation.

 

5. Set aside time: How often do you hear of a renovation finishing early or even on time for that matter? Don’t assume that you’ll be the exception to this common occurrence. With all the moving parts and decisions to be made during a renovation, you need to be realistic about how long it will take to complete.

 

6. Open up: You’ve hired these professionals to alter one of the biggest investments you’ll ever make, your home. It’s important that you have a trusting and open relationship with them. Think of them as your partners, not your employees.

 

7. Design for real life: Open shelves and sleek materials look nice in magazines, but they’re not always great for daily life. If you’re not a particularly organized person, don’t expect yourself to change just because of your renovation. Find a way to design your space so that it is both beautiful and practical.