Looking at homes it is very common to come across a beautiful home that is lacking in some respect. Some of the common issues in home buying are: in need of paint, in need of carpeting, want of plantation shutters or other window treatments.
So what are some of the costs you should consider when looking at a home that has the right size rooms, the right traffic flow, the right size yard..and is just needing your personal touch. Which begs the question where is the line between remodel and personal touch. When you are looking for your next home and trying to remain on a budget do you know what is truly a ‘touch’ and what is actually a remodel? There is the obvious- if the words..”well we can take out this wall and move…” come out of your mouth that is remodel talking. If it is only the white walls, or the berry red walls, that you feel must be changed prior to move in- that is personal touch.
Personal touch is fun and easy and often can be done prior to move in or even in the early days of move in without breaking the bank. If in fact you are looking at Short Sales, Foreclosures, Bank Sales- then there is a good chance you will be faced with the need to add paint, carpet and perhaps a few kitchen appliances or a door or two here and there.
When looking at carpeting think in terms of square feet..and imagine prices in the range of $2.00-$4.00 and up per square foot. When looking at window treatments think Plantation Shutters on standard windows can run from $80-$140 and up. Or think window treatments of drapes and curtains the prices can range from $100/window to wherever you want to go… If you are looking at a home with curved and unique windows add 10-15% onto any estimates as those will often have to be addressed by a professional. Does the home you are considering have everything missing- including the kitchen sink? Then look at pricing for sinks, dishwasher, range, refrigerator and find groupings that will look great and provide you years of reliable service for $3000-$5000 and up…This is a budgetary item you can spend spend spend on, if you so choose- but remember if you do, it may be sheerly for your own pleasure and needs- and you may not recoup that cost, based on the style, size and location of your home. If most homes in the market have CHEF’s kitchens- then go for it! However, if you choose to install a fullly functioning chef’s kitchen in an area where most homes have a basic galley kitchen- then it will be a WOW factor, but you may not get back all that you have invested.
As you can see, without even considering actual remodeling you can easily be bringing $5000-$10000 to the house in improvements right at the time of possession. When you are out looking at homes and considering your offers on these homes- think personal touch or remodel. Be realistic about your neighborhood and what is an investment and what is just for you and your family to enjoy. Then put pencil to paper- or mouse to excel..and come up with a figure you can work with- Offer and Budget for improvements.
That is when you are ready to make a solid offer you can live with in today’s market!
Let Avery Realty Group work with you to find that home you can improve upon and make the offer that works for you- all while keeping money in your pocket.