Kendra Ruminer's Two Cents of Real Estate

Take A Peek At Los Alamos, New Mexico

Tag: home improvements

Make Your Home Improvements Count!

September 16, 2020 /

The subject of home improvement is always a tough one. After all, a home is one of the largest investments we can ever expect to make in our lives. Our home is our castle. And if you’re living in Los Alamos County, chances are you waited, watched, and eventually were so thrilled to move into your home, that the space itself has become nearly sacrosanct. Of course, there’s also a chance that you’re itching to get started on modernizing your house! If that sounds familiar, then let’s discuss a few important points when it comes to recouping cost on a few common home improvement projects.

Data is one of those valuable tools we’ve all become accustomed to looking at when we talk about anything these days. It may (or may not) surprise you to know that there are entities out there collecting data on remodeling projects. One of the most comprehensive reports out there is the Cost vs. Value report. The data is collected by Remodeling Weekly, a publication that caters to contractors and other construction professionals. But the data itself is compiled by surveying Realtors, lenders, appraisers, and other real estate professionals. The purpose, of course, is to help contractors tailor their advertising in a way that helps them push the kinds of projects that homeowners might be more interested in paying for.

That said, we can also spin that report. It’s based on geographical information. And while Albuquerque is the closest metropolitan city that they take into consideration, that still makes it very useful to us here in Los Alamos County. So, the question still remains. What ARE the kind of home improvements that really pay off by increasing your home’s eventual price point in the market?

The Projects That Count

  1. Manufactured Stone Veneer
  2. Garage Door Replacement
  3. Minor Kitchen Remodel
  4. Siding Replacement (fiber cement)
  5. Siding Replacement (vinyl)

It’s not surprising to find things like a kitchen remodel or adding a bathroom or even remodeling a bathroom further on down the list. In fact, you can see that the minor kitchen remodel is number three . According to the “Remodeling” website, if you spend $23K and change on the job, you’re likely to get as much as 78% of that cost back in added value to your home. This is the way the list works, by the way. It speaks in terms of percentage of dollar spent that you might be likely to see added to the value of your home at resale.

“But Kendra, I don’t even HAVE a garage!”

Let’s look at this list in terms of our community, shall we? While adding a manufactured stone veneer to the area around your front door or garage might look fantastic and dramatically increase your curb appeal, that kind of project, along with replacement of garage doors, isn’t always right for homes here in our area.

Reading Between the Lines

Updating is important. That’s a common theme demonstrated by the data trends. Buyers care about updated windows and exterior features like steel entry doors. There is also an element of energy efficiency here. We all know that the old windows in those quads and duplexes in Western Area are paper thin and don’t do much of anything to mitigate heating and cooling costs. If you’re considering doing any of those home improvement projects for yourself, then the good news is that they’ll pay off in the future when you go to sell your home!

Flash doesn’t get much of a return. This is a REALLY important point, folks. We constantly hear and see photographs or layouts of kitchen and bathroom remodels that are out of this world! These projects can cost thousands upon thousands of dollars. And yet the data suggests that buyers don’t really WANT your Tuscan Style Kitchen.

Neat. Clean. Updated. That is the rule of thumb for these projects. A modest kitchen remodel includes updated countertops, flooring, cabinets, and appliances. A bathroom needs a new vanity, sink, countertop, lighting, and paint. While that may seem like a lot, it doesn’t have to include marble tile, imported countertops, and hand hewn cabinets. Just head to your nearest DIY store and see what they have available. You’ll be comfortable in the home while you’re there, and the next potential owner will fall in love faster.

Outdoor living spaces are hot! The bottom line here is that a deck is still a great investment. Especially in our community. Patios aren’t going to net you nearly as much return on investment as a deck, but investing in your landscaping and making the exterior living spaces of your home inviting is always a good idea that gets a high return on investment.

It’s Okay To Suit Yourself

In the end, it’s really important to think about your plans for your home when you consider home improvement projects. If you’ve purchased the home as an investment property, then by all means, carefully choose the identity and scope of your projects to maximize the value. But if it’s your HOME? Don’t forget to be comfortable in your own space. It’s okay to change something to suit YOU. Whether its the gourmet Tuscan Style Kitchen you’ve always dreamed of, or a master suite that comes straight from the Royal Boudoirs Collection. Dream as big as your budget will let you. Love your home! And if you’re ready to turn that investment house into a property for sale, then give me a call. I’d love to talk to you!

Surprise! You Bought A Home.

July 22, 2020 /

You’ve just purchased the home of your dreams in Los Alamos County. You’ve never been so excited about the prospect of moving. Break out the champagne and celebrate, right?

Welcome Home To Your New Space!

Now. Let me be the first to congratulate you. You’re absolutely right. Finding a home to purchase in our community is a whirlwind ride all on its own and that doesn’t begin to cover the step by step process of actually purchasing this new living space. So, yes. CONGRATULATIONS! But while we enjoy that champagne, let’s talk details shall we?

Let me be frank. There are a few hidden costs associated with purchasing a home. I know. I can hear you right now. “Kendra,” you say. “Believe me! I’ve already gone through multiple inspections. I’ve paid insurance premiums and set up an escrow account with my lender. I have this in the bag!”

Right. The details about closing costs were probably a surprise if you’re a first time homebuyer. I always try to walk my buyers through the entire process and keep them aware that these things are coming. But there are just a few more things to talk about. And honestly, they CAN be pretty fun. After all, who doesn’t like the part where you move in and make this new house your home?

Remember That First Walkthrough?

No. Not the walk through that happens just before closing. Although, if your new home was professionally staged when you first decided to purchase it, that last walkthrough might have been a bit of an eye opener if the place was bare boards and stark walls. That was the moment you got to actually picture your things inside the house. How did it look? Don’t worry. There are plenty of ways to make this new space feel like your home.

Now, go back to the very FIRST time you saw this home. For those of you who have already purchased or those considering selling and moving into another home, keep in mind that in this Covid-19 market, many of these walkthroughs are taking place virtually. There are so many home buyers who have NEVER physically been inside the new home they’re purchasing before they’ve got the keys in their hand and the mortgage payment coupon in their mailbox.

Stop for just a moment. The Los Alamos market is unlike anywhere else. The good news is that you’ve got your house! Love that! Give yourself permission to be thrilled with that! And remember that the rest is just cosmetic. Even if its quite possible that your new house hasn’t been updated since the seventies, who cares? This is your chance to make this house YOURS. Keep in mind that in other cities you might be peeling off the nineties, the eighties, and the seventies before putting your stamp on it. A few less layers can be a good thing!

Remember all of those improvements you knew needed to be made on this home before you became convinced that this was the ONE? There’s nothing wrong with some can do DIY attitude. But now that you’ve come through the home buying process, I don’t want some of the basic foundation stones for actually LIVING in your home to get lost in the shuffle.

Start Small

Yes. Small. As in, blinds or shades, or some kind of window coverings. You need to be able to cover your windows for privacy and also, in a bigger way, to maximize heating and cooling. So many homes in our area are lacking in modern double paned windows. I can think of a few homes that are missing screens on the windows, much less blinds. And we’re talking trading pretty for functional right now. Start with examining all of the blinds or shades in your new home. Count them, measure them, and then start looking for good deals on decent window coverings. You’ll be surprised how quickly the cost grows. But, you’ll also be thankful you handled this small task when that brutal summer sun starts creeping into your home and sending the temperature toward the roof. Good blinds can save plenty of pennies in cooling costs. And those are the pennies you’ll use to improve your new home in other exciting ways!

It may take a while for your new house to look like a real homey haven.

Now, The Kitchen

No. Don’t look at the cabinets. That’s a project you’ll be tackling soon enough. What I would suggest instead, is to look at the appliances. Check them for functionality. Does the refrigerator actually keep things cold? Does it freeze your produce solid? Does the dishwasher clean the dishes, or does it recycle your food leavings before flinging them back onto the plates and glasses? Does that snazzy built in microwave work? How about the oven? Did the house come with a washer and dryer? Do they get the job done or are you looking for a clothesline to finish your dry cycle outdoors?

Appliances are a vital part of our lives. Modern families are hard to manage without these work reducing beauties. But, as with everything else in a home, there is a decision that has to be made here. Is now the time to replace them or not? Do not let the avocado green or brilliant red or goldenrod yellow color of these make your decision for you. If an ancient refrigerator does its job and does not require you to call a repairman every day, then bump it down the priority list. If you’re dreading the purchase of the new fridge with its $3300 price tag, don’t let that keep you from replacing an older model that is costing you an extra $100 or $200 per month in electric and repairs. Think energy efficient and prioritize your list of renovations. Then assess each appliance with the decisiveness of a general making strategic battle plans. And by the way, take your time and enjoy making this space all yours!

Plumbing

Next, let’s take a look at the bathrooms and every faucet in your new home. Are the toilets making weird noises? Do the faucets drip? Does the shower head hit everything BUT your hair? Replace or repair these little things. The cost of doing them all at once may take more of your budget than you’d like. But making sure that you’re not increasing your water bill or driving yourself insane every time you take a shower is a must. And speaking of shower, you might want to replace the shower curtains or doors depending on how that door track looks. And what about the toilet seat? A new seat can refresh the toilets in your home in ways you probably never imagined possible.

Make sure the bathrooms in your new home are liveable.

This community is unlike anywhere else. We love living here. We love the fact that our homes are unique and sometimes dated. Okay. Maybe we don’t LOVE the dated part. But you’re going to do something amazing with that space. I know you will. Until then, remember that its about functionality, energy efficiency, and not draining your bank account penny by penny each month. Making sure your home is your refuge even while you’re rehabbing your heart out to make it the haven of your dreams will make the DIY rehab project that much more fulfilling.

Ready to Make a Move? Call or Email Kendra Today!

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