Do We Still Update Our Homes In A Down Economy?
The last few years have sure taken away some of the excitement of investing in Real Estate and the thrill of making a tidy profit. we heard all the doom and gloom and watched the inflated housing values fall to where they should be , and then dip below. Naples was one of the worse effected by devaluation . however, we all know we still reside in one of the most desirable places in the world. Everyone would love to be here , and certainly savvy buyers from all over the globe are still investing in a piece of paradise.
Some of us got “stuck ” , as we call it , living in a home or owning a home that we had hoped to move on from. you know you need to keep up with maintainence , but what should you do and how much should you spend?
First pick the brain of both Interior Designers and Real Estate Agents. The Real Estate Agents will give you an up- to -date and accurate appraisal of like valued properties in your area. an Interior Designer will be able to do a walk through and tell you what changes would be most effective in order to give your home both a more current and upscale look. It is still about bang for the buck and cutting away from the pack. plan on spending about 5- 7 per cent of your home’s current value back into an indoor/outdoor mini-renovation.
Some basics to consider are :
Exterior paint colors – not blah beige , do an actual color , brighten the trim , and pep up your posies too. A light cream trim with a coral hued house is a great background for green foliage and vibrant oranges and yellows in flowers. The interior color schemes of today are much bolder. Keep the outdoors- in thing going by trying a soft yellow , lively green , aqua , or warm paint palette for the home’s exterior.
Landscaping- bring in a Professional or go consult with one and get some new plantings around the home. Clear up any weeds or bushy areas.
Lanai- make sure your furniture is not too tired , add fresh cushions , repair any cracks in the concrete or power wash your pavers. Bring in some tall pots in sharp accents colors to make a statement.
Interior walls - Labor is pretty reasonable now , time to touch up all the trim , re-caulk those baseboards , add accent walls , repaint some rooms or even the whole house. again it is all about wow backgrounds , painted ceilings , and having at least 3 colors in your palette , even if they are blended. Paint your vents , please.
Update light fixtures , fans , lamp shades , make sure you have enough light , dim light is dreary. Replace bulbs with LED ones when you can. Bring in accent lights like pendants or picture lights . Add dimmers. Make sure you do not own any hollywood bulb bathroom vanity light bars.
Change all old door and cabinet hardware out to brushed nickel or oil rubbed bronze , or something funky in a fun color.
Fix all plumbing leaks , change out old faucets , get a comfort height toilet. Install new towel bars.
Organize all closets and pantries.
Replace any mirrors that are wearing at the edges , or cover them with bevels . Install frameless shower doors.
At this point do a modest amount of what I call decorating . Buy some new accessories and rearrange the furniture . Involve a Designer’s eye and expertise to help you clean it all up and stage your space.
One thing is certain with the mostly down home market , you will be happier by having a great looking place to come in to , and then show to others. rather than one that is a visual symbol of your own discouragement. so make you and your home smile. get your Update going!
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