Remodel or Move?
That question is often parlayed into further family discussions. Today’s column will offer some suggestions on answering the question. Before you can determine whether to move or remodel there are many factors to consider:
Do you truly love your home’s floor plan?
Does your home offer you the space your family needs?
Do you plan to live in the house for at least the next five years?
How’s the neighborhood? Can you envision living there for years to come?
Will the current room remodel provide you with the home you want or will you need more remodeling in the future?
Last month our eight-week master bathroom remodel was completed. The walls and interior doors were removed to open up the space. It consists of 200 square feet and houses his and her mirrored wardrobe closets, an 8-foot by 4-foot shower with dual showerheads, a travertine shower surround and a travertine floor. The custom cherry cabinets on Queen Anne legs contain dual sinks and a center vanity with marble countertops. A lighted wall cabinet for towels, lotions and potions was also installed. Recessed cans provide the lighting. The ceiling was raised to 9 feet and a remote controlled skylight was installed. We’re thrilled with the result. We bought the house 2 years ago and plan to retire here.
Choosing the contractor will be your primary priority. Quality Builders of Fountain Valley was a no-brainer for us. Many of our neighbors and friends had their homes remodeled by this company within the last few years. Referrals are imperative. Licensed contractors with good track records will provide the contact information of their previous clients.
Questions to ask the references:
Did the contractor complete the job within the timeline and the budget?
Were the workers on time to the job each day; did they perform as directed?
Did they clean up before leaving?
How responsive was the contractor? Did he return calls promptly?
Was the contractor on the job site regularly?
Did you have any problems? How were they resolved?
Would you use the same contractor again?
Would you mind if we came to see your remodel?
If the homeowners are happy with the job, most will invite you to see the finished product. Kitchen and bathroom remodels garner the highest return when selling your home. You’ll spend anywhere from $25,000 to over $100,000 depending on the project, that’s why it’s so important to consider the first three questions. If your current house doesn’t provide the room you need, consult a trustworthy lender to determine how much house you can afford in today’s market. Take a ride with your local Realtor and view some homes for sale. Doing your homework, will result in making the right decision for your particular needs.
Susan Saurastri is a Realtor with Star Real Estate. Contact her at 714-317-0664 or www.FountainValleyLiving.com or Susan@FountainValleyLiving.com
Well-groomed, Well-priced Homes Earn Multiple Offers
Last week I wrote about my clients in the Classic Fountain Valley tract, north of Warner Avenue and east of Newhope Street, who received seven offers on their home. It sold for $8,100 over the list price of $569,900 within the first week on the market. The victorious buyers agreed to remove the appraisal contingency.
This past week, my seller in the Meadow Homes tract, south of Talbert Avenue and west of Bushard Street, received four offers on her home. John and Linh attended the open house. They wanted to buy it. The asked, and I agreed to represent them. I disclosed that the seller had received three other offers. When an agent represents both the buyer and the seller, dual agency is established in which the Realtor cannot disclose to the buyer, the seller’s bottom line, nor can she reveal home much the buyers are willing to pay. The seller was out of town. I emailed her the four offers. She decided to issue a counteroffer to each of the buyers, containing the following stipulations: 1) buyers to provide their best and final offer, and 2) buyers agree to remove the appraisal contingency. When the buyer removes his appraisal contingency, he is agreeing to pay the contractually agreed upon purchase price, despite the possibility of a lower appraised value.
To achieve a fair and equitable result for all the principles involved, I asked the agents and my buyers to place their counteroffers in a sealed envelope and deliver it to my office. On Wednesday morning, the seller opened the envelopes. John and Linh’s best and final offer was $2,000 more than the next highest offer. All the buyers agreed to remove the appraisal as a contingency of the contract.
The seller accepted John and Linh’s offer. John is a manager at Hyundai in Fountain Valley and Linh works for Orange County. They have two young children. Grandma lives nearby and will baby-sit the kids. The house is in escrow for $18,000 over the list price. Note to Fountain Valley homesellers: Condition your house to sell and price it according to the comparable sales, and you too, will receive multiple offers.
Susan Saurastri is a Realtor with Star Real Estate in Fountain Valley. She write a weekly real estate column for the OC Register’s Fountain Valley VIEW. Contact her at 714-317-0664 or Susan@FountainValleyLiving.com or www.FountainValleyLiving.com