Lynn D'Avolio
Coldwell Banker Residential Brokerage | 801-597-2857 | lynn1@soldbylynn.com


Posted by Lynn D'Avolio on 3/24/2015

Does your home have a basement? If you own a home with an unfinished basement, you have a prime opportunity to add significant value to your home. In fact, some states will allow you to count a finished basement's square footage as part of the house, thereby additionally increasing your home's value. Here are a few other incentives for you to start what may be the most lucrative home remodeling project you can undertake as a homeowner. Freedom - Not only does finishing your basement add value to your home, it also gives you an opportunity to create an entirely new floor plan from scratch. You can make a new family den, a couple of small rooms for storage, study, or playtime, or you can construct a fully functioning extra level of your home, complete with a bathroom. The possibilities are endless. Income - Creating a fully functioning basement level that can be rented out to tenants is an exciting way to independently earn some income from your hard work. While some may be turned off to the idea of renting space in their home to strangers, finishing the basement with an extra bathroom is still a lucrative endeavor if you ever plan on selling your home. Utility Savings - When properly insulated, basements will tend to be the coolest level in the summer, and the warmest level in the winter. Many families benefit from turning their basement into a den for this reason. Space - Many people use their basements for storage, but most don't utilize the space as efficiently as they could. Even a partially finished basement can provide you with proper storage capabilities that you wouldn't be able to utilize as effectively in an unfinished basement. For tips and floor plan ideas, visit http://www.hgtv.com/topics/basement/index.html





Posted by Lynn D'Avolio on 1/15/2013

If you are looking for ways to increase the value of your home, then there are some simple guidelines to follow, as well as a few projects you may want to consider avoiding altogether.  Depending on the region, a particular home remodel has the potential to make or break a potential sale. Swimming Pools - Homes with swimming pools generally do better in the warmer states, where they can be seen as a welcome addition during the hottest months.  However, a home in New England that has a pool is increasingly likely to be viewed as a headache.  Maintenance costs, family safety, and seasonal accessibility make this addition one that is in reality more likely to hurt the chances of being able to sell your home quickly.  Not to say that you shouldn't have a pool if you have your heart set on it.  Just don't count on it making your house more appealing.  If you already have a pool, then try to sell your home in the spring or summer, when the pool is in use.  This will help potential buyers see the benefit of the addition, without reminding them of the headaches associated with upkeep. Koi ponds and indoor aquariums - These items, while beloved to a homeowner, may turn off a buyer who isn't interested in being a pet owner.  There aren't a lot of uses for an aquarium installed in a wall for someone who doesn't like the idea of having fish.  Similarly, koi ponds on the property have the capability of turning off an owner that doesn't necessarily want to have a portion of their backyard dedicated to a project that they have no interest in taking over. Converting garages and second bedrooms - While these renovations generally arise from necessity, they can hurt your resale value in the future.  Garage space is fairly desirable these days, and especially so in cold climates that deal with large amount of snow.  Converting a garage in New England isn't generally a good idea unless you absolutely need the space.  This is also true in the cases of converting second and third bedrooms into office spaces.  While a new buyer may consider at a later date to convert an extra bedroom into an office space, they may not want to have the option forced on them.  Most of the time, a two-bedroom house with an office will remain on the market longer than a three-bedroom house. Fireplaces - They can be beautiful, yes, but fireplaces are quickly falling out of favor with buyers, and are increasingly being seen as a messy addition to a home.  In 2009, a consumer preference survey from the Nation Association of Home Builders ranked fireplaces as No. 1 on a list of what NAR called “Home Fads That Are Falling Out of Style.”  Not to say that fireplaces don't have a market.  Many people are still looking for homes that contain one or even two.  But installing a fireplace in an existing home can be very expensive, and the return on your investment wouldn't be that great.