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Home projects that pay off.

July 26th, 2009 12:18 PM

Today I read the following article in our local newspaper, and decided it was worth passing on. Hope you enjoy the read.

"Thinking about jazzing up your house? Before you do, you might want to consult with the Joneses — especially if you plan to sell it at some point in the future. Failing to do so could cost you big down the road.

Jack Forman should know. He's already made that mistake once and says he doesn't plan on making it again.

A relative newcomer to the Valley, Forman has been trying to sell his home in another part of the state for more than two years. "I thought I'd make it move faster by upgrading the kitchen and bathrooms with top-of-the-line stuff," he said, "you know, new cabinets, granite counters, stainless steel appliances, all the bells and whistles."

The only problem? The other houses for sale in his old neighborhood and price range don't have granite countertops or stainless steel appliances. "My neighbors think the house is beautiful, but the buyers aren't willing to pay for it."

Knowing how to keep up with the Joneses without outdoing them is critical to success when playing the real estate game. That's why real estate experts recommend getting a good feel for comparable houses before diving into any type of home improvement project.

"When I changed realtors, the new guy told me I could have done just as well by painting the cabinets, changing out the plumbing fixtures and putting in some nice, solid surface counters," Forman said in February while looking through an apartment guide publication at an area grocery store. "I could have done that for $2,000, but I ended up spending $20,000."

Want to get more bang out of your remodeling bucks than Forman? Here's a look at five home improvement projects guaranteed to bring you the best return on your investment, courtesy of Remodeling magazine's 2009 Cost vs. Value report.

Invest in Curb Appeal: It might not make a $150,000 house look like a million bucks, but painting your home's exterior will certainly bring more money when it comes time to sell. If your house is sided with old-fashioned fiberboard and your neighbors' homes are sided with vinyl, it might be time for an upgrade. According to the CVV report, you'll get the most bang for your buck by installing modern fiber cement siding. Made from cement, polymers and fibers, it looks like wood but resists termites and wear. Because the pigments used to color the product are worked in before the product is poured into molds, the color does not fade. If you choose to go with a product like this, you can expect to recoup up to 87 percent of your investment should you re-sell in the near future.

Add a deck: If your home doesn't already have a deck, adding this easy-to-do outdoor living space is sure to spark buyers' interest — and net you a nice return. According to the CVV report, if you put you remodeling dollars into a wooden deck, you can expect to get back 82 percent of your investment. But be careful. Don't build a deck that's a lot larger than other decks in the price range or you risk wasting your money. And unless other comparable homes in the market feature decks made of composite lumber, you might not want to pay for that pricey upgrade. The CVV researchers estimate you'll only see 74 cents for every dollar you spend on a deck made from composite lumber.

Spiff up the kitchen: By making smart investments in the kitchen, you can expect to see an 80 percent return in this all-important room of the house, CVV Report researches say. If your home's kitchen has not been updated recently, you should at least paint the cabinets, update plumbing fixtures, upgrade the flooring and install laminate countertops. Don't invest in such high-ticket items as granite or marble countertops unless your home is competing with other homes that already have such amenities. Concrete countertops are a hot, green option that will save you some green on expenses.

Replace old windows: If your home has older windows that leak air, you should strongly consider replacing them with vinyl replacement windows. You'll not only dramatically improve the marketability of your property and cut your heating and cooling costs while you're living there, you'll also see a 77 percent rate of return when you sell, the CVV Report estimates.

Gut the kitchen or bathrooms: If you're stuck in a 1970s kitchen while your neighbors are living the good life in a palace of granite, it might be time to bring out the big guns — and the big bucks. Experts say you should plan to spend 10 to 15 percent of your home's value replacing cabinets and flooring; upgrading counters, plumbing fixtures, lighting and appliances and adding a few bells and whistles. Space permitting, plan to add a kitchen island. Bathrooms in the same miserable shape? Take the same approach and start from scratch. You should see approximately 76 cents on every dollar you spend at the closing table.

Unfortunately, Forman says he'll probably never recover his remodeling costs. "I overdid it," he said. "It's not a big house, but I thought I'd put in all the stuff you find in a big, fancy house. Now, in order to get my money back out of it, I'd have to find a buyer who is willing to pay big bucks for a small place. It's just not going to happen."

Posted by Jennifer McGuire on July 26th, 2009 12:18 PMPost a Comment (0)

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Thriller at Sears Tower

July 2nd, 2009 10:16 AM

The Grand Canyon Skywalk

I saw the news reporting this week where the Sears Tower in Chicago has added a glass observation area, creating an illusion of “walking on air”. Excuse me, but I just get weak at the knees when I think of how my heart would pound and I’d break out in a cold sweat at the thought of standing out on this glass platform. The transparent walls, floor and ceiling supposedly leave visitors with the impression they're floating over the city.

I know it’s been professionally engineered, and the balconies can hold five tons. I have also read where the glass is an inch-and-a-half thick. So it’s 1.5” thick glass! It’s still clear! If I stood out there I would see that below my feet there was nothing but clear glass keeping me from falling 1,363 feet!

This thriller view at the Sears Tower is nothing compared to the Grand Canyon Skywalk, which provides a clear view 4,000 feet down to the Canyon!

As for my observation viewpoint…..I’ll stay safely on the inside of the building (still a bit nervous about the height), or share with me a photo of what you saw…...

Enjoy your day. Hope you have a safe and happy holiday weekend.

Posted by Jennifer McGuire on July 2nd, 2009 10:16 AMPost a Comment (0)

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4th of July Celebration

July 1st, 2009 1:52 PM

Today I’m wondering if it’s the “right” thing to set off fireworks during the 4^th of July celebrations, with the current economic conditions. So many people have been laid off, are taking unwanted/unpaid furloughs, as well as some are totally without a means with which they can pay their bills.

Is it right to spend tax money on a fireworks celebration?

Is there a better way to “celebrate” the 4^th of July without the traditional pomp and circumstance of the firework display.

It would seem a bit of a disappointment to most not to have those awesome sights and sounds to enjoy, but is it right?

Just thinking……..

Hope you enjoy your family this weekend, and have a safe holiday.

Posted by Jennifer McGuire on July 1st, 2009 1:52 PMPost a Comment (0)

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