Entries in home features (2)

Tuesday
Mar222016

5 Home Fixes Not Worth It at Resale

Are you thinking about remodeling? Check out which remodels and additions offer the greatest bang for the buck when you are ready to sell.

Bathroom remodels and additions may offer some of the fewest paybacks at resale, at least when compared to 20 other popular projects.

The best remodeling projects? Download the 2015 Remodeling Impact Report

The National Association of REALTORS® and the National Association of the Remodeling Industry released a report showing some of the home renovation projects that offer the biggest and smallest returns when selling a home.

The report found that installing a new roof and refinishing hardwood floors was worth every penny of the cost at resale. But which of the 20 projects evaluated offered the smallest percentage back when home owners went to sell their home?

Bathroom addition

  • Average cost: $50,000
  • Recouped at resale: 52%

Master suite addition

  • Average cost: $112,500
  • Recouped at resale: 53%

Closet renovation

  • Average cost: $3,500
  • Recouped at resale: 57%

Bathroom renovation

  • Average cost: $26,000
  • Recouped at resale: 58%

New wood-frame windows

  • Average cost: $26,000
  • Recouped at resale: 58%

Source: “6 Worst Home Fixes for the Money,” Bankrate.com (March 2016)

“Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®."

 
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Thursday
Mar102016

Most Wanted Features by Generations

Looking to sell your home? According to the Daily Real Estate News home buyers are demanding more home features that help them save energy and keep the house organized. This study was conduct by the National Association of Home Builders and reveals some interesting comparisions.

 

However, the generations – millennials (born 1980 or later); Gen X’ers (born 1965-1979); baby boomers (born 1946-1964); and seniors (born 1945 or earlier) – do show some differences in what home features they value the most. In a nationwide survey of more than 4,300 home buyers, NAHB pinpointed those differences and which features each generation most desires.

 

The following are the home features most wanted by each generation:

Millennials

  • Laundry room
  • Exterior lighting
  • Living room
  • Patio
  • Front porch
  • Both shower stall and tub in master bathroom
  • Ceiling fan
  • Hardwood on main floor
  • Deck
  • Energy Star-rated appliances
  • Dining room

Gen X

  • Laundry room
  • Energy Star-rated appliances
  • Exterior lighting
  • Energy Star rating for entire home
  • Energy Star-rated windows
  • Ceiling fans
  • Front porch
  • Hardwood on main floor
  • Patio
  • Living room

Baby boomers

  • Energy Star-rated appliances
  • Energy Star rating for entire home
  • Laundry room
  • Energy Star-rated windows
  • Exterior lighting
  • A full bath on the main level
  • Ceiling fan
  • Insulation higher than required by code
  • Patio
  • Hardwood on the main floor

Seniors

  • Laundry room
  • Energy Star-rated appliances
  • Energy Star rating for entire home
  • A full bath on the main level
  • Table space for eating in the kitchen
  • Ceiling fan
  • Double kitchen sink (side-by-side)
  • Energy Star-rated windows
  • Insulation higher than required by code

Conversely here are the top 12 features home buyers want the least

  1. Elevator (63 percent)
  2. Pet washing station (54 percent)
  3. Wine cellar (53 percent)
  4. Golf course (53 percent)
  5. Daycare center in the community (52 percent)
  6. High density — smaller lots and attached or multifamily buildings (46 percent)
  7. Cork flooring on the main level (45 percent)
  8. Dual toilets in master bathroom (44 percent)
  9. Two-story family room (43 percent)
  10. Wet bar (42 percent)
  11. Two-story entry foyer (40 percent)
  12. Laminate countertop (40 percent)

 

Source: “Housing Preferences Across Generations (Part I),” National Association of Home Builders’ Eye on Housing Blog (March 7, 2016)