East Bay Homes | May 2023

HomesEAST BAY

n Into the unknown – This whacky market continues

n A look at the latest real estate data

n Why you should remodel the kitchen first for yourself

n Turn a backyard into your own relaxing respite

54 Wawaloam Drive | Westerly, RI

$8,250,000 6 BD 4 BA 4,572 TOTAL SF

Larry Burns 401.222.0656

383 Ocean Road | Narragansett, RI

$4,595,000 5 BD 5F 3H BA 4,512 SF

Ruth Bellino 401.741.1577

406 Bellevue Avenue | Newport, RI

$4,200,000 11 BD 13F 1H BA 10,575 SF

Eric Kirton 401.743.2744

67 Newport Street | Jamestown, RI

$3,395,000 3 BD 3F 1H BA 4,876 SF

Bob Bailey 401.413.6928

Lila Delman Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate.

the unknown —

The real estate market continues through historic and unprecedented challenges, with high prices, inventory shortage and rising interest rates

BY SCOTT PICKERING spickering@eastbaymediagroup.com

Michelle Cartwright has been working in the real estate market long enough to have seen plenty of highs and lows. The broker and co-owner of the RE/ MAX River’s Edge agency, she remembers when Rhode Island suffered through its own banking crisis, triggered by the collapse of local credit unions. She obviously remembers the mortgage crisis and recession of 2007 and 2008. Both of those created unprecedented challenges for the real estate market. Neither were anything like what is happening now.

“This is different than anything I’ve seen,” Cartwright said.

The real estate market today is not facing a full-blown crisis, but it is the most unique, unusual market anyone has ever seen. Inventory — meaning the

number of properties for sale at any given time — is lower than it has ever been (or at least since they started tracking this). “Historically low inventory” has been used so frequently in the last few years it seems to have lost all meaning. But the reality is that there are fewer properties for sale than ever before, and the number of transactions has fallen dramatically.

“The inventory of homes is at a historic low,” Cartwright said. “We’ve been saying it for three years, but it’s even lower today than it’s ever been.”

Rising interest rates

Asked about the state of affairs in the real estate market, two local experts both responded by talking first about rising interest rates in the lending mar-

MICHELLE CARTWRIGHT

‘Wildflowers’ Country Compound

Shingle-style residential compound on 5.9 acres with gunite pool. Property is comprised of three lots and four principal buildings, including a guest cottage and two barns.

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Gated Coastal Residence at the Aquidneck Club Conveys with separate buildable lot and has access to tower pool

THE MARKET: Local Realtors

From Page 6

ket. They say those rates are impacting everything, helping creating a bottleneck of historic proportions.

“The lending market is definitely driving the real estate market,” said Ryan Fonseca of Century 21 Topsail.

In a normal market, the mortgage interest rates would mostly impact the buyers, especially first-timers. Can they get a mortgage loan and if so, for how much?

With the Federal Reserve ratcheting up the prime lending rate to help thwart inflation, today’s 7% and 8% rates for 30-year, fixed mortgages are impacting everyone, both buyers and sellers.

“You’ve got a lot of potential sellers living with mortgage rates at 2% or 3%,” Fonseca said. “They’re looking at things and saying, ‘why would we want to sell and then double or triple our rate in the new house?’ ”

As a result, almost no one is willing to put their house on the market. There have been some estate sales, and there are cases when a family has no choice, a

Realtor Ryan Fonseca recently listed this Swansea home, built in 2019, for $689,000. It went under contract within four days, after seven potential buyers made offers above the asking price. See

THE MARKET: Bidding wars and buying frenzies are the norm these days

From

job relocation forces them to move. But the normal rhythms of selling and buying — stepping up to a larger home for a growing family, or downsizing for empty-nesters — those are totally out of whack.

“There’s a clog in the whole flow of the market,” Cartwright said. “There are a lot of homeowners who want to move, but the interest rates make it unaffordable to move. They’re not putting their houses on the market because of it.”

The result?

“The number of transactions is down 35%,” she said. “That’s a massive decline.”

Prices remain high

Because of the low inventory, and because this region remains a highly desirable place to live, anything decent that comes on the market becomes its own hurricane of activity.

“We get these bursts of activity, with four or five houses coming on the market at the same time, and in less than a week, they’re all under contact,” Fonseca said.

If it’s a decent property in decent shape, the typical pattern involves a frenzy of showings, a hectic bidding war that unfolds in hours rather than weeks, buyers waiving contingencies, and a purchase agreement for more than the asking price.

than the asking price. The house was under contract by Monday.

Fonseca said that’s a typical sales cycle these days. Many properties go from list to contract in four days.

“There are so many buyers out there, even if we were flooded with inventory for the next six months, I still think we’re going to see this sort of craziness,” Fonseca predicted.

Part of the crazy in this market are the sales prices. A few years ago, that Swansea colonial would have sold for about $450,000. Now it’s selling north of $700,000.

“Nothing is cheap anymore,” Fonseca said. “Everything is expensive.”

Where’s it going?

Fonseca recently listed a relatively new, three-bedroom Colonial in Swansea for $689,000. It hit the market on a Thursday. He spent most of Saturday hosting private showings, one potential buyer after another. He received eight offers — four with contingencies, four without. One offer was at the asking price; the other seven were for more

Asked about where this is all heading, both Realtors grasped for any positive signs they could find. Fonseca read through the most recent CPI (Consumer Price Index) report, which includes promising news about slowing inflation.

“Because the inflation report is slowing down, the interest rates are hopefully going to follow and decrease as well,” he said. “We should hopefully see mortgage rates in the mid-5s, maybe low 5s, over the rest of the year.”

Cartwright has some optimism that things might start loosening up in the third quarter of the year. She’s been telling her agents to be ready this summer.

“It seems like this year we might see an improvement in things,” Cartwright said.

“If the rates can settle in to something below 6%, that will be more palatable to a lot of people. That would help a lot.”

They both had advice for those who feel stuck in their homes, sitting on hundreds of thousands of dollars of equity but worried about the mortgage rates.

“There are a lot of different options for mortgages,” Fonseca said. “A lot of buyers are doing ARMs (adjustable rate mortgages) and getting rates in the high 4s.”

Cartwright said, “Buyers who want to move should just do it … The rates are what they are; they can always refinance in a few years when rates fall again.”

She also has a promising note for everyone in the real estate market who might be struggling right now. The real estate market might be tight and tense right now, but it’s not going anywhere.

“People always need a place to live. They will always need to buy and sell homes.”

they’re all under contact.”

RYAN FONSECA

Designers say a dramatic kitchen remodel is not worth the aggravation or investment unless you plan to enjoy if for a few years

BY SCOTT PICKERING spickering@eastbaymediagroup.com

There are certain home improvement projects one would consider when getting a house ready to sell. Paint the exterior? Definitely yes. Paint the interior? Yes, as long as the colors are neutral. Clean out closets and declutter? A no-brainer, yes. Renovate a bathroom? Maybe …

Remodel the kitchen? Probably not.

Though modern kitchens are critical to selling a house today — quickly and at a good price — the hassle, disruption and cost are too exorbitant unless you, the homeowner, get to enjoy the new space for at least a couple of years. Anyone with an outdated kitchen will want to consider quick fixes to help the heart of the home present

fix

This kitchen has some of the classic elements of a modern kitchen in New England – white, shaker-style cabinets, splashes of soft color, stainless appliances, tile backsplash, pendant lights over the island, farmhouse-style sink.

KITCHENS: Enjoy the remodel for a few years — for yourself

From Page 11

itself better to potential buyers. These might include a modest investment in new appliances, a fresh coat of paint for cabinets or little touches like undermount lighting or an area backsplash.

But gutting the kitchen to create island seating for a full family, wiring for an oversized refrigerator and creating a wet bar for entertaining — those are reserved for the owners who plan to stay and enjoy the final product.

“If you’re going to invest the money, and time, only do it if you’re going to live in it for a while,” said Joyce Fiore, a licensed interior designer with Dzyna Signature Kitchen & Bath in Portsmouth.

“Yes, you’re going to get more money at resale if you renovate the kitchen. But if you’re doing it just to sell it, you’re going to pick basic cabinets, you’re not going pay top dollar for anything … If you really plan to stay there for three to five years, then I would go with the high end, and really make it something you’re going to love.”

Fiore works with clients across a range of budgets. Kitchen remodels can cost $10,000 or they can cost $100,000. “The first thing I want to know is your budget,” she said. And regardless of the budget, she wants clients to do something that makes them feel great about the project.

“There’s got to be a wow factor in that kitchen,” she said. “Do it like it’s your last day, and really do it up!” Where does the “wow” factor come from? Fiore said it can vary kitchen to kitchen, depending on the space and the spending. It could be the tile back-

The renovated kitchen in this home overlooking the Newport Bridge includes a classic subway tile backsplash, which provides some of the “wow” factor for the space, along with the flexible faucet over the stove and crown moulding and decorative shelf over hood. See FACING PAGE

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“If you really plan to stay there for three to five years, then I would … make it something you’re going to love.”

JOYCE FIORE

COURTESY DZYNA KITCHEN

splash, the countertops, maybe the state-of-the-art appliances like touchless faucets or a smart refrigerator. She said clients should make at least a few choices that push the envelope on the budget, because those decisions can have lasting impacts for years.

Make the kitchen fit the house

Renee Croome is a designer and showroom manager with Sakonnet Kitchen & Bath at Humphrey’s in Tiverton. Croome shares the same philosophy about kitchen renovations, that it makes the most sense when homeowners will be there long enough to enjoy them. Yet she has a different frame for the decision-making process.

“The investment in the kitchen should relate to the value of the house more than anything else,” Croome said. “You want to invest in the property with like materials … You don’t want to install a super high-end kitchen in a house that doesn’t match. And you don’t want to put in a really cheap

the house.

“I try to go out to see their house,” Croome said. “I want to see their space, see what their style is.” That helps frame what type of remodel would make sense for each particular home.

Style matters

Though booth designers urge homeowners to remodel for what they love, they both cautioned against going too far with that.

“I do caution people not to customize too much,” Croome said. Too much customization, or a wildly unique style, may cross the line from designing for yourself, to hurting your actual resale value.

“You definitely have to think about how long you’re going to be living in the house.”

RENEE CROOME

COURTESY DZYNA KITCHEN

A larger view of the same space, showing the white shaker-style cabinets, rich countertops and farmhouse sink. See

The

Fiore has worked in both New York and Florida, where styles can vary greatly from here in the Northeast, where the overwhelmingly dominant style remains unchanged: white, shaker-style cabinets, white tile backsplashes, stainless steel appliances and splashes of single bright colors. “That’s what sells here,” she said. “In New York and California, everything is contemporary. I can count on one hand the number of contemporary kitchens I’ve done here in New England. That style has not come here, and I don’t think it ever will.”

So if you love the look and feel of a contemporary kitchen you saw in Beverly Hills, think twice about bringing it here to Southeastern New England; it may not hold its value when the house hits the market.

The sweet spot

Based on insights from the design-

spot

ers, there might be a sweet spot for when to renovate. “You definitely have to think about how long you’re going to be living in the house,” Croome said. You probably want to enjoy the new space for a few years.

Yet at some point, that “new” kitchen won’t be quite as new, so if you’re planning on moving anyway, you might want to do that before the new becomes old.

“A lot of people are intimated about buying a house that needs a big remodel, especially in the kitchen,” Croome said. “They’re looking for something that they’re not going to have to spend a lot of money on in the next five years.”

So maybe that’s the sweet spot. Remodel the kitchen at any time if you plan on living there for a long time. If you know you’re going to sell, think about renovating it three to five years before it hits the market — long enough to enjoy the great, new space, but soon enough to take advantage of its resale value.

Simple, elegant designs in New England typically include white cabinets, and color islands are popular.

Spring selling season follows a slow first quarter

Despite high prices here, Rhode Island is still affordable to many out-of-state buyers

Affordability limits continued to hamper Rhode Island home sales in the first quarter of 2023. Closed transactions of single-family homes fell 32% from 12 months prior, and the Q1 median sales price rose 4% year-overyear to $390,000.

The condominium market saw similar trends. Closed transactions fell by 38.8%, and the median sales price increased 6.3% to $319,900.

Though the number of multiple bids well over asking price have diminished, sales prices averaged 100% of list price.

The multifamily home market also saw a drop in sales, with a decrease of 38.3%, as well as an 11.4% hike in the median sales price. The median price of multifamily home sales in the first quarter was $445,500, the highest of the three residential home types.

“While multifamily homes have always been attractive to investors, with today’s high rental prices they

have become an extremely hot commodity. At the beginning of May, there were only 145 multifamily homes on the market in the entire state. With inventory this low, we won’t see much relief in price,” commented Bryant Da Cruz, president of the Rhode Island Association of Realtors.

Out-of-state buyers accounted for 23.7% of residential home sales in the first quarter, up from 22.4% of all sales in the first quarter of last year. The top five states sending buyers to Rhode Island were Massachusetts, New York, Connecticut, Florida and California. Buyers from Massachusetts alone accounted for 14.1% of sales from outside of Rhode Island.

“Though Rhode Island home prices are higher than they’ve ever been, they’re still a bargain compared to states like Massachusetts, where the median sales price of single-family homes sold in the first quarter was $535,000, far above Rhode Island’s median price of $390,000. Also, with easy access from coastal Rhode Island to Boston, it’s easy to see why people are attracted to the Ocean State,” said Da Cruz.

Housing Statistics

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Simple tips to improve your status with mortgage lenders

In this game, good financial management leads to good financial opportunities

Owning a home is a dream shared by millions of people. Investing in property that can be owned within 15 to 30 years of closing on the home makes more financial sense to many than continuing to rent and having little to show for it over time.

The first step to take when planning to enter the real estate market is to ensure that your finances are in order. Various factors will influence individuals’ ability to secure a mortgage, and these are some ways to make yourself more attractive to prospective lenders.

Check your credit report

Lenders will check your credit report before deciding if you are a risk or a safe bet for a mortgage. So it makes sense to check your credit report prior to speaking with a lender. The Federal Trade Commission says everyone can get one free credit report a year from each of the three credit reporting bureaus.

If you split it up, you can get a credit

report every four months so you are aware of anything that may adversely affect your ability to get a mortgage loan. A credit (FICO) score that’s too low may disqualify you from a mortgage. Each lender sets its own thresholds when they price and approve loans, but the higher your credit score, the better.

through new credit card applications for several months before applying for a loan, as these inquiries can affect your score.

these factors when landscaping around the pool

The pool is the main attraction, but the landscaping puts the finishing touches on the outdoor space

Backyard pools provide a way to cool off and enjoy a taste of luxury without having to travel.

After installing pools, many homeowners realize that touching up the landscaping around the pool can provide the finishing touch to their backyard retreats. Not all landscaping is the same, and homeowners should choose plants that look beautiful, are tolerant to pool splashout and won’t outgrow the area. The home and garden resource The Spruce notes that a plant that is attractive at two feet tall can grow rapidly and drop leaves or other debris into the pool.

When selecting options for pool landscaping, there are some considerations to keep in mind:

n Choose plants that will provide privacy.

n Know which kind of climate a plant needs prior to purchasing it. Tropical plants may be fitting poolside, but will

they endure when the season is over?

n Design according to the theme of the home, as plants should complement the existing style. Modern foliage may not blend well with a home styled after a tra-

ditional English cottage.

n Decide whether you can accept spreading or trailing plants that can cascade over retaining walls and other infrastructure.

n Look at trees that won’t drop too many leaves, flowers or fruit into the water.

n Think about having layers of plants to soften the landscape, which can make a small pool seem bigger and more luxurious, indicates the landscaping company Earth Development, Inc.

n Don’t overlook the possibility of a lawn abutting pavers or concrete surrounding a pool, as it can soften the edges and keep spaces open and inviting.

n Incorporate herbs or fragrant plants, which can transform a pool day into a spa experience. Consider low-maintenance lavender as an option.

Pool landscaping must marry a variety of different features and plant requirements. As a result, a professional consultation may be the route to take. Landscape architects will have the know-how to select plant varieties that will be tolerant, beautiful and fulfill homeowners’ wishes.

Backyard pools can make a backyard retreat that much more enjoyable. Landscaping offers the softness and beauty that adds a finishing touch to poolside retreats.

Not all plants play nice with pools, so think about growth spread, leaves and privacy when planting.

Turn a backyard into your own relaxing respite

Lights, speakers, comfortable furniture, lush plants and privacy can all transform an outdoor space

Backyards have long been places to unwind and enjoy some peace and quiet surrounded by nature.

Thanks in part to financial instability brought on by rising inflation and measures to tame it, homeowners may decide to forgo traditional vacations in favor of staying home this season. There’s no better time to invest in a home, particularly outdoor spaces, to make them welcoming respites. The following are some ways to accomplish that goal.

Incorporate a water feature

The sound of trickling or bubbling water can make surroundings more serene. A low-maintenance water feature can help to create a calming ambiance. A fountain that does not require a collection pond will reduce the chance it becomes a breeding ground for mosquitoes. Locating the fountain out of the sun can keep algae growth at a minimum.

Add lights for ambiance

Outdoor lighting options include professionally installed, hardwired lights on the home itself or accent lighting that draws attention to trees or architectural structures on the property. It also may include twinkling lights, which some consider a must-have for any outdoor retreat. Lights come in all types and price points. Hang them on porches, pergolas or cement posts inside decorative planters and then string lights between the posts. This way the lighting can be moved

around as desired.

Lounging spots

A comfortable outdoor loveseat or chairs may be a focal point of the yard, but build in some additional cozy spots specifically for lounging around. Nestle a hammock in a quiet corner of the yard, or enhance a chaise lounge with throw pillows and a large umbrella for napping poolside.

Add lushness with plants

Plants can transform any space. Use a

combination of planted varieties around the yard, then enhance certain areas with potted plants as needed. Plants can make an area more warm and inviting, plus they give butterflies, bees and hummingbirds places to stop by and visit. Consider the help of a professional landscaper to bring a vision of a lush, plant-filled retreat to life.

Blend in the pool or spa

With some unique landscape architecture, the pool or hot tub can be built right into the landscape, making it a cohesive part of the design. This can make the yard seem even more like an oasis, especially when the pool is flanked by a waterfall or bubbling fountain.

Add some music

Thanks to wireless speakers that rely on Bluetooth technology, it’s easy to have music piped right into the backyard. Set up a wireless speaker in an inconspicuous spot, such as inside a planter or in the rafters of a gazebo.

Turning a backyard into an oasis can provide the respite many people look for on their properties.

A spa tub can be a focal point of an outdoor space, but you can also build in speakers, a variety of lights and plants, or even a running water feature.

The role of nature in home design in the years ahead

Patios, firepits and comfortable spaces can build a connection to the outdoors and nature

Outdoor living spaces were prioritized during the early days of the COVID-19 pandemic, when public gatherings were greatly limited and individuals were urged to stay home as much as possible. Such demands have had a ripple effect on various industries, including home design.

According to a survey conducted by the New Home Trends Institute in collaboration with Pro Builder, 58 percent of the more than 300 residential architects, designers and design-minded builders who participated said connection to the outdoors/nature will be an important influence on their design choices in the years to come.

In addition, 45 percent of respondents indicated increased attention will be afforded to outdoor entertaining spaces.

So what might the outdoor spaces of homes built in the not-so-distant future look like? Respondents to the survey anticipated a growing demand for various built-in outdoor features, including:

n Firepits or fireplaces

n Outdoor kitchens

n Gazebos or pergolas

n Pools

n Spas or hot tubs

Though trends and consumer demands are ever-shifting, architects and designers are anticipating that future homeowners will want more developed outdoor living spaces and

Surveys predict that outdoor spaces will play a significant role in the value and appeal of homes, as owners and buyers seek comfortable, usable spaces.

greater access to nature, which is something current homeowners can keep in mind when renovating their properties.

Minor exterior upgrades that can help sell a home

Garage doors, windows and landscaping

The home improvement industry has been booming for years, but forecasters are projecting a deceleration in 2023 and perhaps beyond. Estimates from the Home Improvement Research Institute, which is the leading market research resource for the home and building products industry, indicate that growth in the home improvement products market is expected to decelerate from 7.2 percent in 2022 to 1.5 percent in 2023.

Inflation continues to affect consumer spending, and homeowners may be looking to spend less on renovations in the year ahead.

Minor upgrades that aren’t as costly as larger projects can still make a big difference, especially among prospective buyers. When looking for minor upgrades that can help sell a home, homeowners can rely on Remodeling magazine’s annual “Cost vs. Value Report.”

That report analyzes costs for an assortment of remodeling projects and determines the value of those projects at resale. Though resale value depends on a host of

variables, including location, following are some relatively minor exterior upgrades that impress buyers and provide a strong return for homeowners.

Garage door replacement

Garage doors matter more than sellers may recognize, as various real estate professionals note that buyers appreciate homes with updated garage doors. That’s good news for homeowners, as the “2022 Cost vs. Value Report” indicated homeowners recoup roughly 93 percent of their

garage door replacement investment at resale. The average cost of such a job is right around $4,000, making this a budget-friendly remodeling project.

Window replacement

The cost of new windows will depend on just how many windows must be replaced. But there’s no denying buyers like the idea of low emissivity (low-E) windows, which can cut energy bills by a significant amount over time.

The Office of Energy Efficiency &

Renewable Energy estimates that heat gain and heat loss through windows is responsible for between 25 and 30 percent of residential heating and cooling energy use, so sellers who can tell buyers they have new low-E windows can emphasize those savings in home listings. The “2022 Cost vs. Value Report” indicates that homeowners recoup roughly two-thirds of their investment in new windows at resale.

Landscaping

Well-maintained landscaping is another home exterior component that can make a strong first impression on buyers. A recent survey of nearly 7,000 realtors conducted by the National Association of Realtors found that upgrading a landscape recouped roughly 83 percent of homeowners’ initial investment at resale. In addition, 11 percent of realtors surveyed indicated that an upgraded landscape was the decisive factor that closed the deal for the house.

Updating a home’s exterior doesn’t have to bust homeowners’ budgets. Many affordable projects also provide a substantial return at resale.

5 patio projects to enhance outdoor living

Warm weather paves the way to more opportunities to enjoy fresh air. For homeowners who have the luxury of outdoor spaces, including private patios, now is the time to start thinking about projects to enhance these gathering spots.

A patio can be considered a transitional area that links the outdoors to the inside of a home. According to the home and lifestyle resource The Spruce, a patio is often an oasis for lounging and entertaining. And depending on homeowners’ budgets and preferences, a patio can be just as comfortable and stylish as interior spaces. Following are five patio projects that can transform these valuable spaces.

1.

movie-watching under the sun or stars.

4. Ooh la la

Vintage bistro tables and chairs can turn a drab patio into one that calls to mind a Parisian courtyard. Whimsical lighting and accents that you would normally think to see indoors, like a gilded mirror, can add extra appeal. Soften wrought iron and other metals on the furniture by including plenty of flowers and greenery. Don’t forget the candles and a place to stash a bottle of chilling wine.

A pergola is an open-air (traditionally wood) structure that adds a measure of shade and privacy without completely blocking views of Mother Nature. Installing a pergola over the patio helps define the seating area. Hanging plants can add to the ambiance and string lights can make this a great spot to gather when the sun sets.

Build a fire pit right into the design with the same materials used to create the patio. For example, if the patio is brick or flagstone, build up to create an eye-catching fire pit. Fire pits not only look good, they also expand the time frame that the patio can be enjoyed, offering cozy spots to sit even when the weather chills.

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Make the patio a true extension of the inside by putting up walls around three sides of the patio if it connects to the home. Leave the last open to the yard, or consider installing screens to mimic the look of popular lanais. The walls will offer more weather protection, meaning you can invest in high-quality patio furniture to make this a fully functioning outdoor living room. Hang a television that is rated for outdoor use for

5. Farmhouse chic Transform a patio into an entertaining space that caters to guests A large farmhouse style table flanked by benches and some upholstered chairs sets the scene for a dinner amid the fresh air. Watering cans filled with wildflowers and mismatched flatware establish a casual feel for gatherings in the space.

For those who plan to cook and serve outside with frequency, invest in outdoor appliances so you’ll never have to miss a beat with guests.

The options for transforming patios into stylish gathering spots is only limited by the imagination.

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How to pick the right trees for your property

Trees are like children — they don’t stay that size forever, so plan ahead

Trees benefit a landscape by serving both aesthetic and utilitarian functions. A home surrounded by healthy green trees can be a sight to behold, and those same trees can benefit surrounding plants and wildlife at the same time.

As appealing as trees are, not all trees and landscapes make for the perfect match. The Arbor Day Foundation notes the importance of planning when designing a landscape. Planning ensures the trees homeowners ultimately choose for their properties will grow well in the soil and moisture present in their yards.

Careful consideration of a handful of variables can help homeowners determine which trees will make the best fit for their properties.

Height

Homeowners must consider the projected height of a tree before planting it. Avoid trees that will bump into anything

— and

when fully grown, as that can adversely affect surrounding greenery and pose a safety hazard. The ADF’s tree sizing guide can be accessed at https://www.arborday.org/trees/rightTreeAndPlace/size. cfm and serves as an invaluable resource for homeowners who want to plant new trees around their properties.

Canopy spread

Trees grow out as well as up, so it’s important to consider their potential width at maturity as well. The ADF sizing guide can help homeowners get an idea of how wide a tree is likely to be at maturity. Trees that spread out quite a bit don’t necessarily need to be avoided, but it’s important that they’re planted far enough apart so they don’t adversely affect surrounding plants. In addition, wide trees that are planted too close together can make the landscape appear crowded, taking something away from its aesthetic appeal.

Growth rate

Growth rate is an important variable because it can affect how quickly homeowners will see changes in their landscapes. Homeowners who want to plant for privacy can consider trees with quick growth rates or purchase more mature trees that are already near full growth. Those who are not in need of instant transformation can try trees with slower growth rates, which the ADF notes typically live longer than fast-growing species.

Requirements

Different trees require different amounts of sun and moisture and different soil components to thrive. Homeowners can have their soil tested to determine which trees will thrive in it. Local garden centers can be a great resource for homeowners who want insight as to which trees will thrive in their local climates.

Trees serve many functions on a property. Choosing the right trees for a landscape requires careful consideration of a host of variables.

How to approach a basement remodel

Finished basements can be great additions to any home — if you’re going to use them

A fully finished and functional basement is a dream for many homeowners. Such a space, when completed, can serve as an entertainment space, a man cave, an artist’s studio, or any number of additional functions.

Despite their usefulness, finished basements are something of a rarity. In an analysis of data from the U.S. Census Bureau’s Survey of Construction, the National Association of Home Builders® found that only around 24 percent of single-family homes built in 2018 have basements. Homeowners who do not currently have a finished basement but are considering such a project can approach the remodel with a few key factors in mind. Careful consideration of these factors can ensure the project is budget-friendly and worthy of homeowners’ investments.

Investment value

Conventional wisdom among home renovation and real estate experts suggests that a basement remodel is best if done to sat-

isfy current inhabitants and not necessarily to appeal to prospective buyers once the home is put up for sale. Remodeling magazine reports that a midrange basement remodel costing around $70,000 will provide a return of around $49,000 (or 70 percent) at resale.

Though that’s not a poor return on investment, homeowners who are remodeling a basement solely for the potential ROI at resale can find other projects that provide a greater return.

Foundation

The foundation of the home must garner ample consideration before beginning a basement remodel. Certain foundation issues, such as soft concrete, cracked or curved outside walls and cracks in the flooring, are indicative of significant issues with the foundation. These issues can be costly to address, and they must be remedied before the basement remodel can begin.

Existing space

Some homeowners may have bought their homes with partially finished basements or even finished areas that they simply want to remodel. In such instances,

a pre-remodel inspection from a licensed home inspector can save homeowners lots of money and heartache over the long haul.

Partially finished or even aging finished basements might not have been renovated in adherence to codes, which could lead to costly violations down the road. An inspection in advance of a remodel can give homeowners an idea of what they will need to do to bring the basement up to code.

Local officials also can provide a list of necessary permits and a detailed description of requirements to ensure the remodeled basement adheres to code.

Soil

Studies suggest that homeowners should finish basements for their own purposes, not necessarily for resale value.

tested prior to beginning the project. Radon is an odorless gas found in soil that the U.S. Environmental Protection Agency notes can increase individuals’ risk for lung cancer. Radon can seep into basements and increase that risk even further if it is present at elevated levels in the soil surrounding a home. Radon tests are simple and inexpensive, and no basement remodel project should begin without first conducting such a test.

Finished basements are valuable spaces. Homeowners who want to finish or remodel their basements should consider a host of factors before beginning the renovation.

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