Remodel Tampa Bay Spring/Summer 2015

From the Standpoint of a Realtor:
Remodel, Buy
or
Build New
AS A HOMEOWNER AND REALTOR LIVING IN
DOWNTOWN ST. PETE, I RECENTLY FOUND
MYSELF TRYING TO FIGURE OUT IF I WANTED
TO REMODEL MY HOUSE, SELL IT AND BUY
SOMETHING DIFFERENT, OR KNOCK IT DOWN
AND BUILD NEW. MY HOME WAS BUILT IN
1947 AND SITS ON AN EXTRA-LARGE LOT IN A
PROMINENT AREA. THE NEIGHBORHOOD IS A
HODGEPODGE OF SMALL BUNGALOWS AND
LARGER 2-STORY HOMES. THERE ARE MANY
FACTORS IN DECIDING WHICH ROUTE TO TAKE.
THIS ARTICLE WILL SHARE WITH YOU SOME
THINGS TO CONSIDER WHEN MAKING YOUR
DECISION TO ENHANCE YOUR LIFESTYLE.
If you are a homeowner trying to make the decision of remodel your
existing house, sell it and buy something else or build new, here are
few questions to consider that will help you make the best decision for
you and your situation and tips to make the process smoother.
Remodel
How long do you plan to live in the house? If you are making
remodeling decisions to live in your home for 5+ years, your remodel
needs will be significantly different than someone making upgrades to
get more market value. TIP: do not make upgrades for someone else
to enjoy. Make those upgrades now and enjoy them for yourself. Most
remodeling efforts will only recoup about 60-80% of the actual job cost
when you resale. Go ahead and recoup 100% enjoyment from your
upgrades by enjoying them over the next few years.
Are you right side up on your current home? What are the home values
in your neighborhood? Will your remodel project bring your home more inline
with neighborhood prices or out-price your home for the area? The real
estate market has been on an upswing for the past 4 years, slow and steady.
Most areas in Tampa Bay are seeing double digit increases year over year.
TIP: Speak to a local Realtor to discuss market prices in your area and what
upgrades should be done if you are thinking of selling. A NARI contractor
can give you options to stay within your budget.
Written by Rachel Sartain
From a real estate professionals experience, here
are a few remodeling projects to consider to help
make your home stand out no matter if you sell now
or several years down the road.
• Curb Appeal should be your FIRST thought!
If you cannot get them through the front
door, none of the interior upgrades will be
seen. Manicured lawns, clean front door
and clean windows will give your home a
fresh makeover for all to appreciate.
• Open floor plans have become more
and more popular. Creating an open
entertaining area is very important for
today’s homeowners. Meet with your
favorite NARI member to find out
how you can open up your current
living area.
• Closet space and storage is always
key. Most homes built in the urban areas
of Tampa Bay were built between 1920 and 1960.
These homes have small closets and limited storage.
Check out some DIY projects on pinterest and see how you
can easily declutter and organize the spaces you have with a
little minimal work and big impacts.
• Continuous flooring in all of your living spaces help give an
impression that the spaces are larger, more open and create a
nice flow.
• Replace old windows with new energy efficient double paned
windows that meet hurricane standards. This will cut down on
your electric and insurance bill now and give your great selling
points down the road. Plus, new windows just look better.
• A fresh coat of paint can go a really long way! You will want to
paint baseboards, entry doors, and neutralize crazy fun colors.
Appealing to the masses is much easier than finding the one
unique person like yourself.
32 Remodel Tampa Bay Spring | Summer 2015