Real Estate News

Just as the housing-boom spurred home builders into adding square footage and opulent features to homes, so has the economic downturn caused big home builders and small architecture firms to re-evaluate their designs and opt for a more practical modern home.  You can see these new styles and features show up in newer home builds, yet also in renovated homes, as people are staying in one place for longer periods of time.   While average home square-footage has remained relatively the same, it’s how that space is used that has changed.  Formal rooms, like dining rooms and living rooms, are disappearing and families are opting for every-day use areas to play a larger part in their purchasing and design decisions.   Here are some features that are disappearing and the practical designs that are replacing them.

Past:  Formal living rooms
Present:  Open family rooms

Historically, formal living rooms have been used for Christmas trees, never-sat-on furniture, and little else.  Families are now moving toward an integrated, open area that includes the kitchen, family room, and dining area.  This allows for increased family interaction and less wasted space.

Past:  Soaker tubs
Present:  Steam showers

Soaker tubs are rarely used luxuries that are being replaced by bigger shower stalls that allow for greater movement.  Showers are more commonly used over tubs, and as families find themselves staying longer in one place, the need for a comfortable, long-term bathing solution takes precedence over luxury.

Past:  Grand foyers
Present:  ‘Drop Zones’

Grand, double-story entrance foyers are now seen as a waste of space and inefficient.  A more functional ‘drop-zone’ is now replacing this feature.  A ‘drop-zone’ can be compared to a larger version of the mud room, a place to unload backpacks, shoes and coats before entering the greater area of the home.

Past:  Second staircase
Present:  Room for an elevator

With homeowners staying in their homes longer and thus growing old in them, having a second staircase has become a bonus feature that is no longer practical.  At some point, those stairs become an obstacle.  Homeowners with multiple stories are now moving in the direction of adding ground floor living options and leaving space for an elevator should the need arise.

Past:  Dad’s office
Present:  ‘Lifestyle center’

Technology has increasingly moved in a mobile direction and this has eliminated the need for a room dedicated to just Dad.  The lifestyle center is an area that all members of the home can share; a multifunctional work-room that can be used at all hours of the day.

Past:  Breakfast nook
Present:  Outdoor living space

Since open family rooms are becoming the norm and resulting in the kitchen being combined with the dining room, there’s no more need for a separate small table for breakfast.  Homeowners are instead opting for using that nook space for small, outdoor patios that double as a living space – including fire pits and plenty of seating.

Times have certainly changed and has moved the modern american family home into the future.  What category does your home fall into — past or present?

Original article from the Wall Street Journal

Many home owners have found it a necessity to put off minor home repairs, finding a way to just live with the issue at hand.  For example, a dripping faucet in the bathroom can be easily overlooked instead of repairing it, keeping those couple of extra dollars in your pocket.  However, when it comes time to sell your home, what may have been minor and livable to you could be unacceptable to a potential buyer.

The tendency to postpone repairs if they don’t disrupt your day-to-day living brings with it a tremendous list of “things-to-do” when it comes time to sell.  In today’s real estate market, sellers are less likely to to find a buyer who would be tolerant of a dripping bathroom faucet or a flickering light in the closet.

One of the biggest mistakes home owners make when it’s time to put their home on the market is to overlook the small things, often not seeing them because they have become so used to living with them.  Repairing the roof or eliminating a leak in the basement are on the top of a home owners list, but when it comes to a home inspection, the minor things will show up as well.  Experts recommend that home owners keep at least $5000 in the bank for repairs that may show up the home inspection, but just one issue like getting your electrical wiring up to code could eat up that entire amount.  This is just one of the reasons why it is in a home owners best interest to complete minor repairs as they happen instead of waiting until it’s time to prepare the home for sale.

In addition to making sure that the home is in tip-top shape prior to putting it on the market, a homeowner should also consider upgrades that will help to entice a potential buyer.  Upgrades and enhancements could include changing the flooring, new paint, kitchen upgrades or changes like cabinet knobs, and making sure the lighting in the home will show it in its best possible light.

In today’s fluctuating housing market, home owners must do everything they can to help their home sell, from minor repairs to major fixes.  No matter how small the problem may seem to you, it could be the difference of a potential buyer making an offer or not.