8 minute read
The Most Bang for Your Real Estate Buck
What today’s dollar gets you for a new home…or a new look
By Ross Boissoneau
The real estate market is booming Up North. It’s a great time for the sellers, but tough on those looking to buy…unless you find just the right house in just the right place at just the right price. Below, we take a look at four price points from $250K to just under $1M at properties across the region. While they were active listings at the time of the writing, they may well have received and accepted offers by the time you read this.
CADILLAC AREA
4197 S 39 Rd, Cadillac: $259,900
This large, four-bedroom home is just minutes from Lake Cadillac and all the amenities of downtown, but it feels like it’s waaay out in the country. According to the listing agent, the best feature may be the heart of the home: its spacious kitchen boasts abundant storage space, granite countertops, and a large island. Curiously, the house was originally built as a dog-grooming business, though it was never zoned commercial. The previous owners were thus able to utilize the setup to create a laundry room on each level (with separate water heaters!). The huge master suite has its own balcony overlooking the backyard on this 1-acre lot. An attached garage, back deck, and a private fenced backyard complete the listing.
TRAVERSE CITY
5797 E Duck Lake Rd, Traverse City: $774,995 Country living at its best! This home was custom-built four years ago and includes four bedrooms, two and a half baths, and features two large covered porches with wood ceilings, a cathedral ceiling in the living room (also made of wood), and even cherry interior doors and kitchen cabinetry. Oh, yes, the kitchen: granite countertops, a pantry, stainless appliances, tons of storage, and seating at the peninsula overlooking the dining area. Downstairs offers plenty of space where you can let your imagination run wild, with egress windows, room for a rec room and additional bedrooms, and plumbing already in for an additional bath. Is that it? Well, no, because the six acres offers space to park an RV, with septic and a well, though it’s not hooked up for electric yet. But the pole barn is, offering a perfect place to store the toys. LEELANAU COUNTY
11870 E. Lee Mann Road, Northport: $499,000
Vintage charm? Check. Updates? Check. Acreage? Check. This farmhouse on five acres boasts 304 feet of private frontage on Ennis Creek. While it’s currently being used as an incomeproducing weekly rental property, listing agent Kian Culloty says it would make a perfect home as well. It has four bedrooms and two full bathrooms (one of the bedrooms is non-conforming). It’s in a prime location on the corner of M-22 and Lee Mann Road between Omena and Northport, putting it just minutes away from tons of activities and all the local attractions. Culloty says the property’s three lots have already been split, enabling the future owner to sell some of the land if they want to recoup some of their investment.
PETOSKEY
08445 Bear Cove Lane, Petoskey: $919,000
Welcome to the wonderful waters of Walloon Lake. Park in the three-car garage, then experience this three-story home’s 5,700-plus square feet, five spacious bedrooms, five full bathrooms, and open concept great room with Romanesque old world design influences. (All built in 2004.) Gorgeous inside, yes, including the finished lower level—but don’t forget the outdoors, where you’ll find mature hardwoods and tasteful landscaping, and did we mention the crystal waters of beautiful Walloon Lake? Hop in the golf cart or take a short stroll to your boat, nestled in your very own slip. With in-house marina services and your own boat storage house, lake life doesn’t get more effortless.
LOVE IT—DON’T LIST IT
As purchasing a new home gets more challenging, perhaps the answer is to stay where you are and remodel to give your space the refresh that makes it work better for you. But the question remains…what will it cost? We asked Stephanie Baldwin, president and owner of Edgewater Design Group in Petoskey, and Colin Bushong of CMB Construction in Traverse City what moves the needle on time, money, and resale value for homeowners. Which types of remodels do contractors get the most requests for? Most remodel work involves the kitchen or a bathroom. The cost for these spaces can vary greatly due to the selection of cabinetry, countertops, and appliances. For example, a modest kitchen could cost $30,000 finished, or $100,000 if the client wants high-end appliances. Which takes the longest to complete? Currently, kitchens are taking the longest because appliances have a very long lead time, as do cabinetry and countertops. High-end appliances are taking 10-12 months to get. Countertops timelines have doubled.
Which offers the most bang for your buck for ROI and resale value? Baldwin says, “The best resale value is kitchen, then bathroom, then basement finishing. Most buyers desire an open concept, so it is expected this will be done. It is not a huge value add; it just is what most people want.”
Bushong comes at it from the position of a homeowner rather than a potential seller. “My gut tells me you get the most in a basement finish,” he says. “In a home with an unfinished basement, that will make your greatest immediate change.”
Real Estate in Northern Michigan To Sell?
NOW is the time to Cash In!
Real Estate values have been increasing for the last few years & we believe that 2022 will be the optimal time to sell. If you are considering putting your home, cottage or land of ANY type or size on the market, please call, text or email us for a no cost, no hassle consultation. We deal with a wide variety of situations and our #1 goal is to help you reach YOUR financial goals. Realtors Mike e and Deanne are area Experts and have been involve ed in over 880 varied Real Estate transactions since 2002.
Mike Cummings
Broker Owner/Realtor® “Realtor Mike” SRS - Sellers Representive Specialist
PATIENT OF THE MONTHSFR, RSPS, Lic. Residential Builder US Army Veteran, BA, Webmaster
Deanne Savinsky Broker Owner/Realtor®
Mike@TCarea.com Dee@TCarea.com
(231) 570-1111
(231) 570-0050
Meet our Patient of the month, Erika of Traverse City. www.schulzortho.com Thanks for being such a great patient!TCarea.co om, LLC ™ TRAVERSE CITY 231-929-3200 • 4952 Skyview Ct.
CHARLEVOIX 231-237-0955 • 106 E. Garfield Ave. 620 Second St, Suite B, Traverse City, MI 49684 Home Office: Torch River Diligent - Honest - Informed - Full-time - Powerful Marketing NEW LISTING! Woodsy setting with a beautiful view of Duck Lake & the westerly sunsets. Shared Duck Lake frontage within a very short walking distance at the end of the road. Large wrap-around multi-level decks in the spacious yard that backs up to a creek. Open floor plan. Master with cozy reading area, 2 closets, slider out to deck. Maple crown molding in kitchen & hall. Hickory & bamboo flooring in main level bedrooms. Built in armoire & dresser in 2nd bedroom. 6 panel doors. Finished family room in walk-out lower level. MLS#1798048 $220,000. 120 feet of private frontage on all sports Spider Lake. Largest part of Spider Lake, sunshine on the beach all day, sandy bottom. Quality construction, perfectly maintained. Open floor plan w/ soaring vaulted pine ceiling w/ a wall of windows looking out to the lake. Floor-to-ceiling, natural Michigan stone, wood burning fireplace w/ Heatilator vents. Built in bookcases in separate area of living room for cozy reading center. Finished family room w/ woodstove. Detached garage has complete studio, kitchen, workshop, 1 ½ baths & its own deck. 2 docks, large deck on main house, patio, lakeside deck, bon-fire pit & multiple sets of stairs. Extensively landscaped w/ plants & flowers conducive to all the wildlife that surrounds the area. (1791482) $570,000. GRAND TRAVERSE COMMONS Absolutely stunning condo at the Grand Traverse Commons in the private southern part of the majestic historic main building. End unit flooded w/ natural light on 3 sides, soaring ceilings, open great room. Stately entry w/ custom bookcases, original brick walls, wood floors, interior doors, chair rails, 9” baseboards, transom windows, claw ft tub, bath sink & faucet. Danish freestanding gas fp. Master suite could be divided to make a third bdrm. Heated bathrm floors. Common floor laundry. Live among restaurants, shops & galleries. 380 acres of parkland surround the commons. Pets welcome. Short term rentals allowed. Beaches, downtown TC 1 mile away. (1898721) $835,000.
Marsha Minervini
Making What Was Making What Was Thinking of selling? Thinking of selling or buying? Old New Again Old New Again Call now for a free market evaluation of your home. Count on experience to help you navigate today’s market.
231-883-4500
www.marshaminervini.com 500 S. Union Street, Traverse City, MI
231-947-1006 • marsha@marshaminervini.com
Real Estate in Northern Michigan To Sell?
NOW is the time to Cash In!
Real Estate values have been increasing for the last few years & we believe that 2022 will be the optimal time to sell. If you are considering putting your home, cottage or land of ANY type or size on the market, please call, text or email us for a no cost, no hassle consultation. We deal with a wide variety of situations and our #1 goal is to help you reach YOUR financial goals. Realtors Mike and Deanne are area Experts and have been involved in over 880 varied Real Estate transactions since 2002.
Mike Cummings
Broker Owner/Realtor® “Realtor Mike” SRS - Sellers Representive Specialist SFR, RSPS, Lic. Residential Builder US Army Veteran, BA, Webmaster
Mike@TCarea.com
(231) 570-1111
Deanne Savinsky
Broker Owner/Realtor®
Dee@TCarea.com
