A new year could bring a new look to your home. Whether you have only a few hundred dollars or a budget of thousands, you can put your money to work by enhancing your home and its value.
There are two ways to look at investing in your home: Adding value for resale and returning money to you, through energy savings, says Anthony Rodio, CEO of RedBeacon, a free online and mobile resource for consumers in Atlanta and other cities seeking home service professionals.
Whether you are putting your home on the market in the coming year or envision staying put for years, builders, contractors and real estate agents suggested changes to make in your home in 2013.
1. Open it up
Removing one or multiple walls will create flow between the living room, dining room and kitchen.
“We’ve been taking walls out and expanding the kitchen more into the living area. The living area/dining area/kitchen are all combined together,” said Anthony F. Pourhassan, owner of Highlight Homes. “They’re saying, I’m going to be here for 4, 5, 6, 7 years and want to be able to sell it for a profit.”
Getting rid of a “boxy” floor plan can help you recoup your investment when selling, says Ben Christopher, co-broker/owner of RE/MAX Greater Atlanta, based in Marietta. Projects could cost anywhere from $35,000-$100,000, if the kitchen is renovated at the same time (see No. 2), builders and contractors estimate.
Homeowners could pay $2,000-$4,000 to remove one wall, depending on the amount of electrical and plumbing, Pourhassan estimated. The challenge is that until you remove the sheetrock, you don’t know what it’s going to take to remove the wall, said Rick Bennett, director for design and construction for Atlanta-based Epic Development, which recently won four OBIE Awards from the Greater Atlanta Home Builders Association.
2. Tackle the kitchen renovation
White cabinets are back in demand, and tend to be less expensive, said Ty White, president of Atlanta-based Peachland Homes, which won an OBIE Award. White cabinets give more versatility, to do everything from traditional to Craftsman-style to modern design, than darker tones. Consider it the home equivalent of a little black dress. “It’s a good base that you can create a lot of different looks off of,” White said. “I think that’s why people always like going back to it. It makes the room light and bright.”
A smaller scale renovation, such as adding granite countertops, painting or resurfacing the cabinets, and adding hardwood floors and appliances, could cost $5,000-$10,000, Pourhassan estimated.
3. Emphasize the outdoors
Buying a fire pit or buying heat lamps could be affordable ($50-$200) additions to the backyard. “Those small things like a fire pit, or heck, a hammock for that matter, or just something that helps you feel like you have a bigger living space than you had before, makes a big difference in how the family enjoys the home,” Rodio said. Or invest more by having an outdoor fireplace built, adding a water feature, expanding the patio or deck, or installing a paver walkway.
Ask a friend to look at your home from the curb and tell you the first thing they notice (hint: it should be the front door), said Eric King, owner of King Landscaping, based in Sandy Springs. Changes such as pruning bushes below window height, adding mature plants by the front door or planting bushes to hide an air conditioning unit or view of the neighbor’s house can make a difference.
4. Add an island
“We try to incorporate big islands or large peninsulas into our kitchens,” Bennett said. If you don’t have a formal dining room, the island can be used for breakfast, lunch or dinner. When entertaining, an island can offer extra serving space. Some islands come ready-to-install; others can be custom made.
5. Clean your chimney and gutters
It’s not just to impress Santa. Some people are so busy that they fail to take care of their homes, such as keeping their gutters and chimney clean, Rodio said. It could lead to foundation problems, which could impact resale value.
6. Expand upward
Second floors add bedrooms and a new master suite. “In the intown neighborhoods, most of our clients have outgrown the house and have a growing family and need a little more space,” said Curtis Peart, a principal with FrontPorch, an Atlanta-based custom home and renovation company. “They like where they live. The house just doesn’t work for them anymore.” A Jack-and-Jill bathroom typically connects the bedrooms. The master suite can gain a bigger bathroom and walk-in closets. He estimates projects typically range from $130,000-$225,000. “You get the value of having a much different-looking house from the front and not losing your yard,” Peart said.
7. Switch out the hardware
Changing the hardware on the cabinets can be a dramatic but affordable change. “Those things make a meaningful difference in how your home looks,” Rodio said.
8. Save energy
Energy-efficient changes range from adding more insulation (for a few hundred dollars) to installing thermometers such as the popular Nest. The Nest thermostat ($249) is touted as being able to learn your schedule, program itself and be controlled with a smartphone. The company says homeowners can see heating and cooling savings of up to 20 percent. “They’re very intuitive. They learn how you live in the home by the way you adjust them,” White said. “They are very energy efficient. Not only does it look cool, but it is usable for people.”
9. Go low-flow
Replace toilets with lower-flow toilets that use less water and often have a more modern design, Rodio said.
10. Install home automation
Home automation systems enable you to control lighting, security, cameras, thermostats and other features with apps on a smartphone or tablet, and the prices have declined, Bennett said. Companies are specializing in home automation, while some cable providers also are offering those systems and services.
11. Remove unused items
Some older homes have a trash compacter, but it can be swapped out for a wine cooler, Rodio said. That switch could catch the attention of buyers.
12. Get organized
Build-ins and pull-out shelves not only reduce the daily chaos but make it easier to keep a home on the market tidy. “I’ve gone into people’s houses before and their pantries look like a bomb went off in it,” Christopher said.
13. Keep it clean
The biggest investment for anyone planning to see in the future is to clean your home, said Ben Hirsh, owner of Hirsh Real Estate Specialists in Atlanta. He recommends using a cleaning service, but also making it a habit to keep countertops, floors, toilets and closets clean and tidy. “When showing it, it should look like a model home,” he said. “They are easy, cheap things but people get so focused on adding an addition or changing their countertops that they forget this.”
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