Tag: home remodel

Home & Garden Show – Not Your Gramma’s Event

Posted on by Living Room Realty

Hi Readers!

Wanted to share that Working Magic Group will be with our partners at the Design District at this weekend’s Home & Garden Show! Sure, there will be some old school flavors and displays, but we are bringing all sorts of COLOR (and flavor!) to our showcase, highlighting the makers and shops of the Central Eastside. Find inspiration from shops like CARGO and City Liquidators (y’all… have you been recently? Mind blown.), artists like Kate Blairstone, color talks and curb appeal brainstorming, and enjoy yummy treats from Salt & Straw and Straightaway Cocktails. Which, btw, just launched a new beverage in partnership with W+K’s Portland is What We Make It campaign. Prettttty sure you’ll get a taste of it, there.

EXTRA BONUS! We’re giving away four sets of tickets to enter the expo! Weather is supposed to be meh, so come dream big and say hi! Also, we’ll be giving away a prize pack you won’t want to miss. Find the details on @workingmagicgroup

Let’s hear it for the dreamers!

See you there,

Gab

Renovating toward your dream home

Posted on by Jessica LeDoux

Finding the perfect house is a dream and people need space to explore what this looks like for them. The reality is there is no perfect house, but gaining clarity about what you want by visualizing your ideal place is an essential part of the home buying process. I pride myself on helping clients create space for this inquiry because when we dream, we can act in service to our deepest values.

Prioritizing the features in a home that matter most and are unchangeable helps us create a roadmap to finding the right house within the budget, instead of chasing a unicorn. Plans and needs change and so can your house. When you select your home with your core needs in mind, there is a greater likelihood that your home can adapt alongside you.

I have inhabited many different eras of homes in my own house journey, which started in north Portland with a 1920s Piedmont bungalow. I was in my early 20s with my husband and a newborn. We spent 4 years on renovations and moved on right after they were complete. From there, we enjoyed the ease of new construction in Scappoose with our two kiddos until we returned to Portland to renovate a 1940s home. This time, we had more experience and renovated in an order that allowed us to enjoy the paradise we were creating in Roseway, but life changed and we picked up and moved to a quieter pace in the land of mid-century homes on large lots — Milwaukie. We knew this was the house we planned to stay in long term and we thought our years of renovating were over, so we bought a nicely remodeled 1960s ranch in the Oakridge Neighborhood. But renovation is in our blood; turning that off is very hard. When I tour homes, I instantly see the roadblocks and the possibilities and start looking at how to solve or improve them. 

We found the house knowing we would need to recreate the backyard oasis we had created in Roseway, but this desire blossomed into so much more. This project quickly became one we knew would be too large for my husband and I to take on ourselves. My husband Greg has remodeled every one of our projects – man, did he deserve a break – time, bandwidth, and willingness were depleted. This project was the first one that involved an addition to the house, so for the first time, we looked into hiring a designer and having the work professionally done. I learned so much along the way, adding one more layer of knowledge to help clients. The project kept growing, and we endured delays and surprises as you do in any project, but the stress was low because we trusted our contractor at the highest level and knew we were in great hands. This project was so different from past ones because we knew this was the home we planned to grow old in and pass on to the kids. Knowing this, I allowed myself to dream and made design choices with more self-expression than in past homes where we knew we would eventually move on. Searching for the right products and tweaking options to create the best space we felt was possible became an obsession. I reactivated a more creative side of myself lost through the years. This creative side I allowed myself to have, combined with my knowledge of homes and design, was a perfect recipe to create our dream space. 

Upgrades that Add the Most Value to Your Home

Posted on by Living Room Realty

In the world of residential real estate, not all home upgrades are created equal. Whether you’re getting your house ready to sell or you’re planning to stay put for a while and want to know which projects to tackle first – this post is for you!

I often talk with my clients about which home upgrades are best for resale value, or provide the best Return on Investment (ROI). This info is relevant for both home buyers and sellers, as savvy buyers want to know which upgrades are worth the most when they’re searching through listings for their next home.

The most effective strategy to find out this information is to reach out to your trusted real estate professional. Experienced Real Estate Agents will use detailed knowledge of your house and the local housing market to personalize their recommendations for the type of home upgrades that will add the most value to your specific home.

Upgrade vs. Update: this blog post concerns Home Upgrades, not updates. The difference for the purpose of this article is fairly important: while updating your home with fresh paint, clean floors and crisp landscaping will help your home sell for top dollar, they generally won’t affect the starting value of your home as much as larger remodeling projects.

For a more general idea of the types of Home Upgrades that give the best return on investment ROI, consider the following:

Exterior projects – according to the Remodeling 2022 Cost vs. Value Report (www.costvsvalue.com), improvements to the exterior of the home have consistently ranked highest in terms of Return on Investment for homeowners. Projects that increase your home’s curb appeal and add value include: garage and front door replacement as well as new siding and windows.

Modest Kitchen Remodel – the key here is to bring the kitchen up to a standard that MOST buyers will appreciate, without going overboard. The reason is fairly straightforward: not every buyer has the same aesthetic as you. Make the kitchen “workable” for most buyers and let them do their own reimagining after they purchase it from you!

Systems Upgrades – upgrades to the systems of the home (including adding or installing new HVAC, overhauling old plumbing and electrical) are less exciting, but I always point these out to my buyers. In the Portland Metro Area, you’ll see homes listed with the Home Energy Score (HES) which helps buyers estimate the monthly utility costs of the home. Energy efficient upgrades should improve the HES score of your home. While the ROI might not be as high for these upgrades, they can provide immediate benefits to you as the homeowner AND should appeal to buyers when you decide to sell.

Structural Upgrades – the structure of the home will sometimes need to be upgraded and can help with resale value. In the rainy Pacific NW, a new tear-off roof, water drainage system and/or seismic upgrades are worth a lot to my buyers! These upgrades are hard to quantify in terms of ROI, but the peace of mind these upgrades provide can be worth their high price tag.

ADU/Additional Structures –  adding an additional structure or creating a legal ADU in your home can provide additional income opportunities to you as a homeowner, and in some cases can be used to help a buyer qualify for the loan to purchase your home. If you’re considering this type of home upgrade, be prepared to do your homework by researching your local laws and guidelines for building permits, finding multiple bids for construction costs and be sure to seek advice from your Real Estate Agent throughout the process.

Disclaimer – while the information in this post is meant to be helpful to homeowners, these are mostly my opinions. Ultimately, these opinions can’t be applied to every home in every situation, so it’s best to consult with a Real Estate professional when you’re ready to pick up the sledgehammer!

 

Sources:

https://www.remodeling.hw.net/cost-vs-value/2022/

Improvements to Make and Enjoy Now That Will Pay Off When You Sell Your Home

Posted on by Living Room Realty

LRR Agent Bobby Curtis lends his expert advice to the Oregonian on remodels and upgrades to make to your home that will increase livability now, and improve resale value down the line. Read the full article HERE. 

Portland broker Bobby Curtis can’t count how many times his clients lament making costly home improvements not for themselves but for a new owner to enjoy.

“Why didn’t I do this sooner?” they ask Curtis of Living Room Realty as they are looking at photos of their now-stylish residence readied for the real estate listing.

Don’t wait. There are low- to high-cost ways to upgrade a residential property and increase its livability now that may bump up its value when it’s on the market later.

Another motivation: Putting off repairs could make the situation worse, and perhaps harder, or impossible, to sell the house later.

Unless the structure is a teardown, failing electrical, plumbing, and HVAC systems as well as a bad roof and safety issues have to be repaired to sell a property to a buyer relying on an appraisal to secure a mortgage.

What’s up with Cosmetic Fixers?

Posted on by Mel Marzahl

 

What’s up with cosmetic fixers? What are they? What’s the difference between a “fixer” and a “cosmetic fixer”? Here is a quick guide to cosmetic fixers. I’ll answer these questions and talk a bit about how buying one could be the best way to get into a busy market and what to look for.

What are they?

First, let me explain what I mean by a “cosmetic fixer”. These are homes that structurally and mechanically are in good shape but look outdated, dirty, or generally unattractive. Cosmetic fixers can be condos, townhouses, single-family or multi-family homes.

What’s the difference between a “fixer” and a “cosmetic fixer”?

In short, a fixer is a property that needs A LOT of work and may not even be livable (lacking heat, missing flooring, open walls, mold/mildew, etc). They are priced significantly under the average price for a similar property in the same area that is “move-in ready”. Fixers often require cash to purchase the home as lenders may not provide financing for them. A cosmetic fixer is a home that has “good bones” meaning its main systems are functioning well and it’s livable, but it may need a deep clean and some minor t0 significant updates to the cosmetics. Cosmetic updates might include things like carpet, paint, countertops, cabinetry, fixtures, tile, and the list goes on… It can also generally be financed as well because while it may need a deep clean and updating it is still in liveable condition.

What to look for

If you’re looking for a cosmetic fixer, you will need to look past a home’s popcorn ceilings, chipping vinyl floors, or dirty, threadbare carpeting and take a good look at the functional aspects of the home. The structural components of the home, like the roof, gutters, siding, windows, and doors should be in generally good to average condition. The mechanical components of the home, like the furnace, ac, plumbing, electrical panel, and ventilation should also be in good to average condition. Your realtor can point out things to take note of and share their experiences, but you should always rely on the expertise of a home inspector and/or trusted contractors to verify the condition.

Is a cosmetic fixer right for my budget?

Whether you are a first-time buyer looking to get into the market, someone looking to buy a second home, or an experienced investor, there are some things to consider first. Mainly, does your budget allow you to make the needed repairs? If you’re getting a loan to buy the house, you’ll want to look at the funds you have available after your downpayment and closing costs. Do you have enough money to make the repairs you want to do? How big is the home?

If you only have enough to cover new paint, some new hardware for cabinets, and an appliance or two, maybe a “light” cosmetic fixer or a more modest-sized home is best. If you have enough cash to replace all the cabinetry, re-do the bathrooms, replace light fixtures and flooring, you’ll have more options.

A way to stretch your budget as a first-time buyer, or someone who intends to live in the home as they fix it up, is to prioritize your repairs. Decide what needs fixing or replacing before you move in, what items you can do in the first year, and what things you can live with for a few years while you save up for the next project. Does the carpet need replacing or does the asbestos popcorn ceiling need to be removed? You might decide to do these items before you move all your stuff in and live with the 1970s kitchen for a while. If you go this route, keep in mind that you’ll also have regular home maintenance things to budget for as well. You may be saving for a new bathroom, but don’t forget to put a few dollars away to re-caulk and touch up paint the exterior next fall or to have your ac and furnace serviced regularly.

Is buying a cosmetic fixer right for me?

Well, if you’ve read this far, I think it could be! Deciding to buy a cosmetic fixer means that you have the vision for what a home could be with some TLC. It also means that you’re committing to a bit of a project. Cosmetic fixers can work for many types of buyers. Maybe you’re handy, you like a DIY project and plan to live in the home as you fix it up. Or maybe you’re planning to hire someone to do all the updates right away so you can move in and enjoy the freshly updated space. You might have an eye for design and see a cosmetic fixer as an opportunity to choose your own finishes and make a space your own vs buying something in great shape that doesn’t match your style. Maybe you see it as an investment opportunity and plan to fix it up to be more desirable to more people and sell it for a profit. Whatever your plan is, cosmetic fixers can be a good option for lots of buyers!

 

If you’re ready to start shopping for a cosmetic fixer in Portland or the surrounding areas, give me a call. I’ll happily show you homes with potential that just need a little TLC. I love a design project and can discuss how to meet your goals and make a place your own.