Selling a home today is a bit more challenging, but luxury home features can tip the scales in sellers’ favor.
The real estate market has been something of a roller coaster ride over the past few years. Historically low interest rates coupled with a surging interest to move to communities with more outdoor space during the height of the pandemic led to a lot of movement and inventory as well as some of the highest home prices in some time.
The tides have started to change in recent months, as the housing market has
been tepid at best since interest rates have increased. In the week ending August 24, 2023, the national average 30-year fixed mortgage rate pushed to 7.23 percent, while the National Association of Realtors said the median existing-home sales price was expected to surpass the all-time high of $413,800. The stagnation of the market is caused by high interest rates, sellers not wanting to budge on prices, individuals wanting to
>> sell but not being able to afford other homes, and a general decline in inventory related to each of these factors.
Individuals who are in position to buy right now may be more selective in what they are seeking in homes, particularly if they’re spending top dollar. Current homeowners planning to put their homes on the market may want to consider these five luxury renovations to set their properties apart.
1
SMART HOME FEATURES
It’s now common for new home builders to include smart home technology when building. Advanced home tech, like facial recognition for doors, intuitive home assistants, smart lights and outlets to control appliances from a smartphone app, and similar offerings can make a home more attractive.
2
MODERN OPEN FLOOR PLANS
Even though there has been some shift to buyers wanting homes with delineated borders, most still are drawn to those with open concepts. Those who are selling may want to investigate where they can open up rooms or take down walls to recreate these features.
3
OUTDOOR KITCHEN
A luxury indoor kitchen is still a major draw for buyers, but increasingly people are seeking properties that also maximize outdoor entertaining spaces. Having an outdoor kitchen with built-in grill, sink, counters for food preparation, and a refrigerator or wine chiller may be coveted. When an outdoor kitchen is near amenities like a spa, grand patio, pool, and other outdoor living spaces, the home really will beckon buyers.
4
SALTWATER POOLS
Pools have both pros and cons at resale. Therefore, sellers should speak with a realtor before installing a pool simply to make a home more appealing. However, if there already is a pool, converting the set-up to a saltwater system may win over buyers. Saltwater systems rely on fewer chemicals and proponents say the water feels more silky and less irritating.
5
UPGRADED OWNER’S SUITE
An owner’s suite complete with luxury spa bath, walk-in closet with built-in storage, sitting area, and potentially access to an outdoor space will win raves with buyers.
Is your deck decked out or checked out?
With patio season on the horizon, follow these tips to spruce up your outdoor oasis.
Spring is a season of rejuvenation that compels millions across the globe to quit hibernating and get back to enjoying the great outdoors. Spring also marks a great time to assess a home’s exterior, namely those areas like a deck where people will spend a lot of time in the warmer months to come.
Assessing a deck after winter can be eye-opening. Harsh winter weather can take its toll on a deck, and the following are some telltale signs that a deck could be in need of repair or replacement.
Wobbly planks and railings are one sign of a deteriorating deck homeowners won’t recognize as they hide from winter weather indoors. But these tend to reveal themselves rather quickly when examining a deck after winter. Wobbly planks in the middle of the deck can be inconvenient, but wobbly steps and railings can be dangerous. According to the home improvement
resource Angi, wobbly railings can be a byproduct of rot. A local decking professional can assess the extent of the rot in railings and elsewhere and determine the
best course of action. If the rot is isolated to an area or two, a simple repair may be all that’s necessary. Extensive rot may require a full replacement of the existing deck
Many homeowners paint their wood decks, and that paint will not last forever. Faded paint can turn an otherwise lovely deck into an eyesore, and paint can fade over the winter. Thankfully, a local painter can address a faded deck and may recommend some additional strategies to safeguard the deck against fading next winter and beyond.
Many a homeowner has encountered curious-looking holes in their deck This could be a sign of insect infestation. Termites, carpenter ants and carpenter bees are among the various types of insects that can bore holes through wood. Homeowners who notice holes throughout their deck are urged to call a deck professional and/or pest control firm to assess the holes and
offer a solution. Though small issues may be addressed with repairs, a deck littered with holes caused by insects may need a full replacement.
Wood decks may be made of wood, but they can still exhibit signs of rust, namely in the nails and metal connectors that hold the deck together. If screws have rusted to the point where they are no longer holding the deck together, a full-scale replacement could be in the cards, as the deck could have substantial structural damage. Like other issues that can reveal themselves during a springtime inspection of the deck, rust necessitates a thorough examination by an experienced decking professional.
MANY PEOPLE DO NOT USE THEIR DECKS DURING WINTER, WHICH ONLY UNDERSCORES THE SIGNIFICANCE OF A FULL DECK INSPECTION IN SPRING.
An “out with the old, in with the new”mentality can extend to people’s visions for their homes.
Ahome in need of repair or renovation can serve as a catalyst to take inventory of personal style and help make interior spaces reflect one’s unique vibe. A living room can grow stale over time and often serves as a catch-call for clothing, blankets, gadgets, and other items. Upon recognizing a living room has seen better days, individuals may decide it’s time to give the space a new vibe. That transformation can start with these strategies.
Clutter frequently is the culprit behind a living room that may not give off the vibe individuals desire. As families grow and people add belongings, space may be at a premium. Less is more has never been a more important concept. Remove extraneous items before purchasing new furniture or transitioning to a new design. You may even want to remove everything and start from scratch before reintroducing desirable elements to the space.
LIVING ROOM FROM PAGE 8
Some people are adept at decorating and designing spaces. But just as you wouldn’t perform your own medical procedures, you should leave jobs like interior design and renovations to the professionals. Hiring a professional interior designer and contractors can really bring a living room together in ways homeowners may have never imagined. These pros can build off of your ideas and truly create a space that may be worthy of a magazine spread.
You may want to consider adding natural materials in the design to promote well-being. Eco-friendly furnishings, raw
fibers and organic textures will create an environment from sustainable choices. Plenty of plants also can create a welcoming environment that helps you surround yourself with positive energy and the items you love.
Industrial-chic design celebrates the bones of a building. It’s what makes city lofts so appealing, with their exposed beams and brick Even those who live in suburbia or out in the country can give a living room this look with subtle nods to the style. Unadorned windows, clean lines on furniture, oversized, gallery-style art, and metal accents can add touches of this popular look to your home.
One of the easiest ways to transform a room’s vibe is to utilize lighting. Change draperies to allow more natural light to shine in. Consider additional windows or skylights if yours is a particularly dark home. If you desire to create a more vivid or cozy ambiance, use a combination of accent, task and supplemental lighting in the space so there are no dim corners.
REVAMPING A LIVING ROOM DOESN’T HAVE TO BE DIFFICULT. WITH AN IDEA IN PLACE AND SOME PROFESSIONAL TOUCHES, AN ENTIRELY NEW VIBE CAN BE ACHIEVED.
Modern kitchens are visual marvels and highly functional spaces. A new island, a deep sink and some extra storage space can help homeowners transform their existing kitchens into spaces that cater to their every need.
Homeowners want to view their homes as a respite from all that goes on outside their doors. Indeed, turning a home into a residents-only retreat can ensure everyone looks forward to walking through the front the door at the end of the day.
It’s well documented that kitchens are the most popular rooms in many homes. Kitchens are where families tend to congregate during holiday celebrations, and many a child has tackled their homework as mom or dad prepares dinner just a few steps away. With so much time spent in the kitchen, it’s no wonder kitchen renovations are popular In fact, data from the National Association of Home Builders indicates kitchens are the most popular room to remodel Whether homeowners are planning a full scale remodel or a few tweaks to update the room, the following are three popular features of modern kitchens.
The popularity of farmhouse style sinks is proof that large and deep sinks are sought-after among today’s homeowners. Farmhouse sinks may be best suited to a particular aesthetic, but a 2021 study from the National Association of Home Builders found that side-by-side double sinks & walk-in pantries were the most popular of 30 listed kitchen features. That study surveyed more than 3,200 recent and prospective home buyers. Deep sinks are especially useful for people who love to cook, making them a solid addition to any kitchen where home chefs ply their trade most nights of the week.
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The adage “there’s a lid for every pot” suggests that, even in relation to the real estate market, there’s bound to be a buyer for every home on the market Price is a significant variable in the minds of potential buyers, but there are additional factors that can affect the impression people get of a given home Certain home features can tip the scales in favor of sellers. In fact, various renovations can help sell homes more readily. And these renovations need not cost a fortune. Putting a home on the market can be stressful, but these renovations may help it sell fast.
Although painting is relatively inexpensive and a job that some do-it-yourselfers can tackle, it’s not a task relished by many Painting is messy, it takes time, and requires moving furniture. In fact, prepping a room for painting often is the toughest component of any painting job. But fresh coats of paint can create a strong first impression. Choose a neutral color and get painting. Jennie Norris, chairwoman for the International Association of Home Staging Professionals, says gray is a “safe” color that has been trending in recent years. >>
Remove dated wall coverings, replace fixtures, consider re-glazing or replacing an old tub, and swap old shower doors for fast fixes in a bathroom. If there’s more room in the budget, replacing a tub, tile surround, floor, toilet, sink, vanity, and fixtures can cost roughly $10,500, says HGTV. You’ll recoup an average of $10,700 at resale, making a minor bathroom remodel a potentially worthy investment.
The kitchen tends to be the hub of a home. This room gets the most usage and attention of any space, and it’s a great place to focus your remodeling attention. The National Association of the Remodeling Industry estimates that homeowners can recover up to 52 percent of the cost of a kitchen upgrade upon selling a home Buyers want a functional and updated kitchen. Trending features include drawer-style microwaves and dishwashers, commercial ranges, hidden outlets, and even wine refrigerators.
Better Homes and Gardens reports that homeowners may be able to recoup 85 percent of the cost of new HVAC systems when they sell their homes. Heating, cooling and ventilation components are vital to maintain. You don’t want buyers to be taken aback by an older system, and many millennial buyers are not willing to overlook old mechanical systems.
A home’s exterior is the first thing buyers will see. If they pull up to a home with eye-catching landscaping and outdoor areas that are attractive yet functional, they’re more likely to be intrigued. Often buyers will equate a home that features an impressive exterior with upkeep inside as well. The American Nursery Landscape Association says the average homeowner may spend $3,500 for landscaping.
IMPROVING A HOME’S CHANCES TO SELL QUICKLY AND AT A HIGHER PRICE OFTEN COMES DOWN TO MAKING SMART IMPROVEMENTS THAT CATCH THE EYES OF BUYERS.
KITCHENS FROM PAGE 16
KITCHEN ISLANDS
A recent survey from the interior design experts at Houzz found that kitchen islands are popular for a variety of reasons. Islands provide a versatile functionality that comes in handy when preparing meals on typical weeknights and when hosting friends and family on special occasions like the
58% OF RESPONDENTS ENJOY EATING AT KITCHEN ISLANDS
30+ YEARS IN THE INDUSTRY!
holidays and birthdays Islands come in a variety of shapes and sizes and can be customized to fit just about any space. Mobile islands can be utilized in small kitchens when homeowners want the extra prep space but think the kitchen would be too cramped if a permanent island were added.
49% LIKE ISLANDS FOR ENTERTAINING
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STORAGE
As the NAHB study indicated, kitchen storage space is sought after among modern homeowners. As home cooks expand their culinary horizons and cook more elaborate meals, they need extra places to store specialty pots and pans, ingredients and other materials. Homeowners looking to add more storage in the kitchen can consult with a local contractor about how to create such space. A walk-in pantry can do the trick, but homeowners with kitchens where space is more limited may need to get a little more creative.
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BATHROOMS FROM PAGE 14
The good news is that there are a slew of local bathroom refitters One of the more popular ways to turn a home into one’s own personal retreat is to upgrade the bathroom A renovated bathroom can completely transform how individuals feel about their homes. The following are some features to consider when remodeling a bathroom with relaxation in mind.
An open shower is a visually stunning addition to any bathroom. Such showers give a bathroom a more open look, thanks in part to the fact that these modern features do not feature a door or require the use of a shower curtain.
The result is a clean look that many people associate with a luxury hotel.
When speaking with a contractor about an open shower install, homeowners can ask about a half-wall to safeguard against water splashing out of the shower. In addition, a heat lamp can help ensure residents stay warm until they’re ready to leave the bathroom.
Additional features to keep everyone calm and warm can be considered when upgrading the bathroom. Radiant flooring can ensure everyone’s toes remain toasty, and the installation of such a feature can eliminate the need for floor mats and bath mats that some homeowners may not like. Commit further to the heat theme with a heated towel rack, which is another feature associated with luxury hotels that can be just as enjoyable at home.
An open shower creates an instant feeling of luxury, but few things are more suggestive of relaxation than a soaking tub. A long day at school or the office or a day when winter winds are howling outside is made much better with a good a soak
The National Kitchen & Bath Association notes that luxury bathrooms featuring soaking tubs are wildly popular, and that vaunted status is undoubtedly due to the relaxing benefits of a good soak.
Even if the goal of a luxury bathroom is to leave the outside world outside, allowing some natural light inside is a great way to add a little extra calm to the room. Floor-to-ceiling windows may seem appealing in brochures or advertisements, but such features do not create the sense of privacy many people prefer in their bathrooms. One or two skylights can create that sense of privacy and still allow for natural light to enter the room, making this an option that provides the best of both worlds.
THESE FEATURES AND MORE CAN HELP HOMEOWNERS TRANSFORM THEIR BATHROOMS INTO LUXURIOUS, RELAXING RESPITES FROM THE OUTSIDE WORLD.
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