Decorating 101--Unique Can Devastate YOUR Home's Value!

I read an interesting article this morning…Extreme Makeover is downsizing their dreams after many of their families have begun to lose their homes to foreclosure. (Read Extreme Makeover story HERE.) Of course as a REALTOR® I was not totally surprised. People who were struggling to maintain a small home would have extreme difficulties managing the enormous bills of a super-sized one. It is just logic. And what if someone has to move? Who else would want the over-built house with the very unique and personalized bedrooms?

Reality television home improvement shows are no doubt fun to watch. It is amazing to see a small room or entire home transformed into a show place. I have always taken issue with unique decorating ideas…many hurt the value of your home. And if anything these few years of market value decline has shown us is our homes really are investments.

Some of the most unbelievable transformations are on children's rooms. They will take a theme like the racecars or princesses and make a child's dream come true. My favorite part of an old kid’s show, Trading Places: Boys vs. Girls, is at the very end when the parents arrive to see the redecorated rooms for the first time. Whether there are ropes hanging from the ceiling, a psychedelic paint job or artificial grass on the floor, the reactions are priceless. Sure they are saying "awesome" for the television cameras, but are they really happy with the new rooms? As a parent, I know how quickly kids grow out of favorite toys, colors and activities. A theme-based room could be hard to transform back to a normal room when the fad passes or child grows. And what if you have to sell your home? How will potential buyers view that boat on the ceiling or the chalkboard walls?

This isn't just something that happens on television. People really do crazy things to their homes and it's not always for their children. Whether it is a unique wall treatment or an indoor hot tub, some people's individualism hurts the value of their homes.

Here are a few unbelievable things I have seen in people's Minnesota homes:

Playground Swings in the bedroom. This family removed a wall from two adjoining bedrooms to create one large room and bolted two playground swings to the ceiling. This home was 1700 ft.., split level home with 3 bedrooms prior to removing the wall. It is now an odd two bedroom. Combine this with the possible structural damage to the support beams if heavier people use the swings, this “improvement” has devalued this home considerably.

Crinkled grocery bags glued to the wall instead of wallpaper. It is a unique look and similar to wallpaper but since it will be difficult (if not impossible) to remove, you will need to find a buyer who likes the look as much as you did. And most buyers don’t like wallpaper so this unique décor had a drastic affect on the home’s value.Multi-colored hand painted murals and stenciling painted on walls throughout the home. This can be beautiful to the owner but because it is applied in an uneven way by less than professional painters, it is difficult to repaint. Often sanding and several layers of special primer are required to repaint.

Indoor hot tubs. Unless you are installing your hot tub oasis in a four-season porch, think long and hard about this so called improvement. In a cold weather state like Minnesota, this just doesn't make any sense. I have seen them installed in bedrooms and family rooms. Many were professionally installed but that does not help retain your homes value. Most buyers still didn't like them because they took away living space or a much needed bedroom. Buyers also have concerns about the installation. What if it leaks? Will it wreck the foundation? Does the steam cause mold? Even if the sellers offer to remove the hot tub prior to the closing, most buyers are turned off by the potential problems that they will walk away from the home. Again your improvement reduced the value of your home buy tens of thousands of dollars.

Kid’s Art on Walls. Chalkboard paint on walls is okay as long as you have a plan to repaint prior to resale. But if you are a permissive parent who thinks, “It’s just a closet after all, what difference will it make if the kids go crazy with a rainbow of Sharpies on the walls?”, think again. If you have ever tried to paint over it, you know it can take more than one coat of Kilz to cover over red permanent marker. No buyer will ever consider kiddy graffiti as adding value to a property.

So does this mean a person shouldn't personalize their home at all? Of course not! It is your home after all.

What I am suggesting is that when you are considering a home improvement or trying the next decorating trend, remember that your home is your biggest investment and asset. Put the hot tub on the patio, deck or four-season porch. Swings belong in the backyard. And wall treatments need to be removable and easy to repaint. Make your decisions with this in mind and your home will be beautiful and pocketbook will be protected.

Copyright 2010 Teri Eckholm 

Quick Tip to Add Value to Your Kitchen

As a real estate agent in northeast Twin Cities metro area, I see many homes in various price ranges and conditions. One thing that always confounds me is when I see beautiful kitchen with newer floors and counters and an old vent fan above the stove. This is something people tend to overlook in their homes. This trend is probably due to most Minnesotans being taught from birth to be frugal and when something "works just fine" we tend to "make-do".

In most cases, The Kitchen Sells the Home! People focus on two areas of the home: the kitchen and the bathroom. It is imperative that both areas be clean and look their best!

When selling your home, don't "make-do" with the old stove vent fan no matter how nice it still looks. Replace with a combination microwave/stove fan. It clears up the counter space and adds tremendous value to the kitchen. It is also inexpensive. A new vent fan runs $40-50. For another fifty-bucks or so, you can purchase a microwave/fan combo. Check scratch and dent discounters or clearance areas for good deals. Make certain that the color you choose matches the range...A black microwave in a new white kitchen is a turnoff.

Sure the buyer could make the change for less than $200 too...But if it is done prior to the seller listing the home, it can mean a faster sale and possibly a bigger check at closing!

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage properties! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2007 terieckholm.com

Remodeling Investments: Bathrooms are a Good BET!

Considering a remodel but are concerned that the investment might outweigh the value added to your home? If you are considering a bathroom remodel, it could be a great investment.

I have always told my clients considering putting their homes on the market, that kitchens and bathrooms sell homes. A recent report from National Association of Realtors (NAR) agrees. In late December, the NAR released the 2006 Cost VS Value Report for home remodels. This study looked at cost data, resale value and percentage recouped for 25 different projects in 60 housing markets across the United States. With mid-range bath remodel, a homeowner can expect to recoup a good portion of their expenses with a 84.9 percent return on investment. This is up from 87.5 percent in a similar study in 2002. 

Before a considering a bathroom remodel, you need to understand “Why” you are undertaking this project. Do you need a new bathroom because the old layout is not functional? Not enough bathrooms in your home? Or is it because you plan to move and the maroon ceramic tile and pink fixtures from the 1950’s are too ugly to get the best price for the home?

To design the perfect bathroom for your home a lifestyle inventory will need to be taken. This is a process where you ask yourself questions to determine the needs and expectations specific to your family for your family. Here some questions to consider:

Who and how the bath will be used?

One sink or two?

Shower and tub combination or just a shower?

What are the storage, electrical outlets and counter space needs?

Private areas or completely open?

Will there be handicap accessibility needs now or in the future?

If you are looking for resale value, trends are important in bathrooms. Here are some of today’s hot bathroom trends:

• Pedestal sinks



• White Fixtures



• Extra-Large Showers with multiple faucets



• Heated, ceramic flooring



• Glass Block and decorative moldings



• Furniture-look to cabinetry



• Solid surface countertops (Corian)

Another important consideration is handicap accessibility needs whether now or in the future. Options today go way beyond a raised toilet and grab bars in the shower. Larger doorways, easy access lighting, easy entry tubs, roll in showers, sinks that raise and lower with the touch of a button are just some of the new options available to persons with special needs. If you are planning to stay in your home for a significant length of time, it might pay to review some of the exciting new products available. In Minnesota, there is an excellent builder/remodeler, Dave Regel who specializes in totally accessible housing. He has model homes that feature unique products that make life easier and more enjoyable to persons will special needs.

If remodeling specifically to put your home on the market, take into consideration the quality and condition of the home. A good Realtor who knows your market can assist you here. If you are in an upscale neighborhood where homebuyers will expect high-end quality, don’t make discount-store decisions. Likewise, if your home is in an area of modest or lower value homes, skip the heated tile flooring and solid surface countertop. Understanding the market place you are in will help you to recoup the most from your investment.

Spending a little extra time in the planning stage can reduce the headaches and heartaches of a construction project that does not meet expectations. Taking your time will allow you to make the wise decisions that add value to your most important financial investment, your home.

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call. Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2007 terieckholm.com

Remodeling Investments: Kitchens are HOT!

Considering a remodel but are concerned that the investment might outweigh the value added to your home? If you are considering a kitchen remodel, it could be an excellent investment.

I have always told my clients considering putting their homes on the market, that kitchens and bathrooms sell homes. A recent report from National Association of Realtors (NAR) agrees. In late December, the NAR released the 2006 Cost VS Value Report for home remodels. This study looked at cost data, resale value and percentage recouped for 25 different projects in 60 housing markets across the United States. With major, mid-range kitchen remodel, a homeowner can expect to recoup almost all of their expenses with an average 80-85 percent return on investment. (Major Kitchen Remodel: 80.4% and Minor Kitchen Remodel: 85.2 %.) This is up from 66 percent in a similar study in 2002. 

Before a considering remodeling your kitchen, you need to understand “Why” you are undertaking this project. Is it because you trip over yourselves in the kitchen in a home you love and plan to stay in forever? Or is it because you plan to move and the 1970’s orange counter and olive green appliances are too ugly to get the best price for the home. The approach to the perfect remodel will be different if you are planning to stay in the home for the long term.

Family Lifestyle Inventory

If you are designing the perfect kitchen for your family, take a lifestyle inventory. This is a process where you answer questions to understand what will be the most important needs specific to your family for the new space. It will help you and your designer to incorporate important details into your plan.

Consider cooking habits: One cook or two? Baker? Left-handed? Do you do dishes as you cook? Lots of Gadgets? Buy in Bulk? One oven or two?

Consider eating habits: Family gatherings? Everyone for themselves? Eat outdoors? Need morning sunshine? Entertaining?

Other Considerations: TV in kitchen? Computer or home office needs? Homework? Laundry? Will the family grow? Older relatives? Handicap Accessibility requirements?

All of these are things to consider when making a decision on whether and how to remodel your kitchen. Work with a designer or use a remodeling design software that will take into account the important specific needs of your family.

Trends for Today’s Kitchens

For a remodel to add value at resale, you must consider current needs and trends. So what are the hot for trends for kitchens today?

**Open to Family Room or Great Room
**Maple cabinetry is a first choice. Cherry is a close second. Painted or enameled are also desirable. A variety of heights, lots of moldings, cabinetry looks and no soffits are the trends.
**Modern Stainless Steel Appliances. Cook tops separate from ovens
**Breakfast Bar/Informal Eating Area and multi-level counter tops
**Office/Communication area
**Access to Deck or Patio for Outdoor Entertaining
**Stainless steel sinks with instant hot water systems
**Pantry or Other Easy Access Storage
**Multiple types of Lighting (Bright for tasks, Indirect for mood)
**Windows for Natural Light
**For natural wood flooring oak is the first choice for durability. Laminates are also very popular.
**Granite or Quartz-based granite clones for counters or islands (Zodiac, Cambria, Silstone). Too expensive to do the whole kitchen in granite? Consider just the island in granite and the bulk of the counter in a complimentary colored laminate.
**Ceramic tile back splashes.
Stick to Your Budget
It is easy to get caught up in the remodeling process and go over budget. Take time from the start to reflect on your family’s needs and reasons for the remodel. Consider options that make the most sense for your family, budget and neighborhood. Make certain that the kitchen isn’t build way beyond the quality and value of the rest of the home. Remember remodeling for family use will cost more than a remodel for resale.
If remodeling specifically to put your home on the market, take into consideration the quality and condition of the home. A good Realtor who knows your market can assist you here. If you are in an upscale neighborhood where homebuyers will expect high-end quality, don’t make discount-store decisions. Likewise, if your home is in an area of modest or lower value homes, skip the cherry cupboards and granite counters. Understanding the market place you are in will help you to recoup the most from your investment.
Spending a little extra time in the planning stage can reduce the headaches and heartaches of a construction project that does not meet expectations. Taking your time will allow you to make the wise decisions that add value to your most important financial investment, your home.
If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call. Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Copyright 2007 terieckholm.com

Dangerous Decorating--Home Improvements that Lower the Value of your Home!

Reality television home improvement shows are no doubt fun to watch. It is amazing to see a small room or entire home transformed into a show place. Some of the most unbelievable transformations are on children’s rooms. They will take a theme like the racecars or princesses and make a child’s dream come true.

As a Realtor, my favorite part of the show Trading Places: Boys vs. Girls, is at the very end when the parents arrive to see the redecorated room for the first time. Whether there are ropes hanging from the ceiling, a psychedelic paint job or artificial grass on the floor, the reactions are priceless. Sure they are saying “awesome” for the television cameras, but are they really happy with the new rooms? As a parent, I know how quickly kids grow out of favorite toys, colors and activities. A theme-based room could be hard to transform back to a normal room when the fad passes or child grows. And what if you have to sell your home? How will potential buyers view that boat on the ceiling or the chalkboard walls?

This isn’t just something that happens on television. People really do crazy things to their homes and it’s not always for their children. Whether it is a unique wall treatment or an indoor hot tub, some people’s individualism hurts the value of their homes.

Here are some of my favorite, unbelievable things I have seen in people’s homes and how the remodel deteriorated the estimated value.

Playground Swings in the bedroom. This family removed a wall from two adjoining bedrooms to create one large room and bolted two playground swings to the ceiling. This home was 1700 ft.., split level home with 3 bedrooms prior to removing the wall. It is now an odd two bedroom. Combined with the possible extreme damage to the structure of the home depending on the weight of the persons using the swings this home would have lost thousands of dollars of market value.

Crinkled grocery bags glued to the wall instead of wallpaper. It is a nice unique look but since it will be difficult, if not impossible to remove, you will need to find a buyer who likes the look as much as you did.

Multi-colored hand painted murals and stenciling painted on walls throughout the home. This can be beautiful to the owner but because it is uneven, it is difficult to repaint. Often sanding and several layers of special primer are required to remove.

Indoor hot tubs. Unless you are installing in a four-season porch, think twice about this, especially if you live in a cold weather state. It just doesn’t make any sense. I have seen them installed in bedrooms and family rooms. Many were professionally installed. Most buyers still didn’t like them because they took away living space. Often buyers were concern about the installation. What if it leaks? Will it wreck the foundation? Does the steam cause mold? Even if the sellers offer to remove the hot tub prior to the closing, buyers have so many concerns that they will walk away from the home. Again your improvement reduced the value of your home buy tens of thousands of dollars.

So does this mean a person shouldn’t personalize their home at all? Of course not! It is your home after all.

What I am suggesting is that when you are considering a home improvement or trying the next decorating trend, remember that your home is your biggest investment and asset. Put the hot tub on the patio, deck or four-season porch. Swings belong in the backyard. And wall treatments need to be removable and easy to repaint. Make your decisions with this in mind and your home will be beautiful and pocketbook will be protected.