Remodeling : The Gene Molloy Real Estate Blog

The Gene Molloy Real Estate Blog

Jan. 5, 2008 - What's It Worth?

It took a while to get some of my investor type clients properly trained. I have told them time and time again to call me before they install a $3,200 gold plated toilet bowl, complete with a bidet, in a $230,000 house.

First of all, not every buyer wants or needs a bidet. The wow factor is just not that great. I guess you could say that they are literally flushing their money down the toilet.

I know what sells. That is my area of expertise. I know what the houses in a given area are worth. That is my area of expertise. I am not a construction estimator, but I have a pretty good idea what any given upgrade job should cost. I also have a sense of what value would be added by doing some remodeling and upgrading. Some of it comes by way of experience, but most of it comes by way of research.

I have found a pretty good research tool. It's Remodeling Online. It's a pretty spiffy cost vs. value site that let you chose the area of the country and gives you the average return on investment for whatever job it is you are thinking of doing.

I love to browse the value of different jobs done in different parts of the country. It's proof positive to the old adage that all real estate is local.

As always, if you have found yourself receiving my blog postings via e-mail, it is because I have either blogged about you personally, blogged about something I know is of interest to you, or I consider you to be a person of deep thinking and intellect and I would love to have you occasionally commenting on my blog. If you would like to be removed from the list simply send me an e-mail saying so.

Comments (1) :: Post A Comment! :: Permanent Link

Jul. 18, 2007 - Bang For The Buck

Someone I knew was about to do a bathroom renovation. They asked me, "If I use a 36"or 48" shower stall instead of a 5' bath/shower combo will it effect the sale value?"

This is a pretty easy question, right? My easy answer is, "Why yes, of course it will". That's because any improvements you make to what I refer to as a water room, kitchens, baths and laundry rooms, always ups your resale value. Remodeling these rooms usually give you the best bang for the buck.

If that was all there was to it, there would be nothing left to consider, however, the question begs another question. Is this the only bathroom in the house? If it is, then you are going to up the resale value of the house from it's present condition but you are going to limit the number of prospective purchasers if you go with the shower only. There are many people out there who just love a nice relaxing soak in a glorious tub of hot water. I don't know of any really young childen who are avid shower takers either, so there goes the purchasing pool of young families as well.

So, after some careful thought and consideration my answer becomes a bit more detailed. If this not the only bathroom in the house, or if you are putting in an additional bath from scratch, then I see nothing wrong with going with a shower only. The size of the shower should be determined by the size of the room. Go as large as you can without crowding the space. Add all the bells and whistles that your budget allows. I often hear prosective buyers mentioning that a shower stall with a bench is really good thing. Personally, if I have my way about it, my next shower will have a full body spray.

As always, if you have found yourself receiving my blog postings via e-mail, it is because I have either blogged about you personally, blogged about something I know is of interest to you, or I consider you to be a person of deep thinking and intellect and I would love to have you occasionally commenting on my blog. If you would like to be removed from the list simply send me an e-mail saying so.

Comments (1) :: Post A Comment! :: Permanent Link

Here you will find thoughts, opinions, rantings, ravings, news, views and other things I think you may find useful. I will publicly answer questions here, so that many may benefit from the curiosity of my visitors, community created content if you will. I am trying to attract "experts" in various fields to comment on different topics of interest, we will see.