Keeping Current Matters

National Association of Realtors

Monday, March 19, 2018

9 Important Questions To Ask Yourself Before You Embark On A Renovation

If you're getting ready to renovate, or just thinking about a few possibilities, you've got some decisions to make. Some of them may be easy (like finally getting rid of that mustard yellow paint, perhaps). But some will require you to search within - and within your wallet!

Tile or wood

If you're redoing your floors, you're probably in the middle of this debate. The growth of wood-look tile has only made the decision more difficult because you get an easy-care finish with the appearance you like. Keep in mind that wood is classic and relatively easy to take care of. But, it can scratch easily depending on the type of wood and the finish—and especially if you have dogs. Tile may seem like a better choice, but remember that it's cold under foot, hard to stand on, and even harder if you fall on it.

Gray or beige

The search for the perfect neutral is wrought with challenge. If you can't decide between the two because you're worried beige is "out" but you're not sure of gray's staying power, do what an increasing number of people are doing: Go greige.
"What if you could take the best of beige and gray, to create a neutral that can avoid the worst qualities of each? Greige has been wildly popular for several years, because it does bring the best of both worlds to life, as a neutral color," said The Spruce.

Granite or quartz

This one's easy. Quartz is today's go-to when it comes to kitchen countertops. After many years at the top, granite has been replaced. If you are still leaning toward granite, keep in mind that buyers may not respond as positively as you.

Gas or electric

When it comes to cooking, chefs swear by the performance of gas stoves, but electric does have its advantages - mostly from an easy-cleanup standpoint. "Each type has its devotees, and its detractors," said Bob Vila. "Burgeoning chefs may be swayed by the versatility and accuracy provided by the flame heating of gas stoves. Meanwhile, parents with young children may switch to an electric stove, seeing it as the safer of the two. Families also appreciate the easy-clean virtues of electric stoves. Strong as one's personal preference may be, economics play a role too: Depending on where you live, one or the other stove type might be cheaper to operate. If your current stove is scorching your sauces, burning the bacon, and ruining the roast, keep these considerations in mind as you choose between gas and electric."

Chrome, nickel, brass…or black

Choosing your finishes today can be more challenging than ever because there isn't one must-have option. Some would say that's brass, which is enjoying a potent resurgence after years of being the butt of outdated d├ęcor jokes. But if you're wary of going toward golden tones, you'll be happy to hear that chrome and nickel are still current. The newest finish showing up in fashion-forward homes is black, so if you want to be an early adopter of the next best thing…

Kitchen or bathroom

If you only have the funds to renovate one of them, how do you choose? Both are important, obviously. We would personally give the edge to kitchen, if budget allows, because it has the ability to make a bigger impact. And, because potential buyers are more likely to react negatively to a worn kitchen in need of what they perceive to be expensive updates.
If you're weighing the two, consider these realities from The Spruce: A bathroom is probably cheaper, a kitchen reno is slightly less disruptive, and a bathroom takes less time. The most important factor: "According to Consumer Reports, 52% of real estate professionals consider the kitchen the most important room to influence a house sale versus 42% who consider the bathroom to be the most important room."

Renovate or add on

You could make an area of your home more fantastic and more functional or you could opt to add on space if you're feeling cramped. Which one is more advantageous? It all depends. If your space is just too small to accommodate your family or if you don't have enough bedrooms or bathrooms, for instance, you might not feel like you have a choice but to add on. Will it pay off? That also depends. The Cost vs Value report will give you an idea of what your return on investment will be before you set aside a bunch of money for something that may or may not pay your back.

Do it yourself or hire a pro

Do you have skills? How do you handle it when things go wrong? Are you the type to finish what you start or are you likely to give up along the way? Is what you're undertaking potentially dangerous? Ask yourself these questions, and answer them honestly. If you're not sure you can pull off the task yourself, you may want to start making some calls.

Now or later

It's quite common for people to wait until they're ready to list their home in order to make updates. But this denies you the pleasure of enjoying those updates while you still live there! If you've been putting off renovations for "someday," perhaps it's time to rev up that timeline!

Written by Jaymi Naciri

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate