At Home Projects That Bring the Most Value to Your Property
With most of society being at home right now I wanted to talk about what at home projects can bring the most value back to your property. Below I have broken these projects into three categories; renovation projects,cosmetic changes and decluttering. All three of which you can do while in quarantine mode.
Renovation projects:
A renovation project can consist of anything from a master bath remodel to full kitchen gut job. Start the planning now! Planning the job of choice can actually be longer than the actual construction! You will want to start with what is your budget? From this number work backwards and allocate what money is spent where. This will also help you determine what materials you can and can not use for your renovation. Many people will start a remodel and think “ I don’t really have a budget”....lies! Everyone has a number in their mind that they “think” the project should or will cost..so start there! For example, if your number is $15,000 for a master bath renovation project, create a spreadsheet with this number at the top with sub categories on the side; material cost, labor, rough plumbing and finished plumbing fixtures. This strategy will help you stay on track with your designer and contractor throughout the project.
So the question now becomes how does a bath renovation or kitchen renovation bring me more money? Well they’re a couple different answers to this question. One is that everyone wants a turn key property. So when you go to either rent your home or sell that $15,000 you spent will actually turn into a $30,000 profit. Two, most people don’t want to deal with renovation projects. They either don’t have the time or the patience, which is why when you go to rent or sell you reap the benefits of the profit.
Cosmetic Changes:
Cosmetic changes include anything from repainting a bedroom to changing out your old kitchen sink to the barn style one you’ve always wanted! Cosmetic changes are one of the simplest items you can do to your home on a budget that still brings value back to your pocket. Consulting with a designer is always your best option since this is their field of expertise! Because cosmetic changes are “easy” many people try and venture out on their own by changing the paint color from a plain white wall to that happy yellow they always wanted. Issue here is while you may love the color yellow many potential renters or buyers do not. Always stick to neutral warm tones when bringing value back to your property. You want to pick finishes and color that will stand the test of time. This will also help you not have to re paint your home every year!
Decluttering:
Last but not least, declutter your property! With most people stuck at home this side project is one that many can accomplish on their own! If you need professional help they’re actually professional organization companies that can do it for you! First when I say I use the term “declutter” I don’t only mean the interior side of your property. I also am referring to your front and backyard areas! Make it fun for you and your kids by creating a friendly competition who can pull the most weeds from the yard the fastest! By cleaning up the exterior of your property this will help create a nice curb appeal which will bring money back to your bank account! Start getting bids now for repainting the outside of your home or re-landscaping your front yard! If you are feeling brave tackle these projects yourself! No matter if you choose to hire a professional or do it on your own these simple but effective projects bring a nice return on investment when it comes time to sell or rent!
LAS VEGAS MARKET FINDS FOR SPRING 2020!
To say the Las Vegas Market show of 2020 was a success is an understatement! This year's Market was better than ever! I saw so many trends when it came to furniture, lighting and accessories! What's even better is that 90% of the product that was shown is only available to Designers and Retailers! What does this mean?? It means that only designers or wholesalers can purchase these products for our clients! See below some of my favorite products!! When picking them I always try and keep in mind where the product is made, quality, price point and turn around time! See anything you like?!?
Contact me for special orders!
ACCENT CHAIRS
ACCESSORIES
LIGHTING
OUTDOOR FURNITURE
What can we expect for 2020!!
Happy New Year! As we kick off the new decade, I wanted to write my first blog of 2020 on what we can expect design and real estate wise this year. 2019 was a great year overall, but I believe 2020 will be even better! Read below to see design trends for the new decade as well as what we may see real estate wise!
Design:
When it comes to interior design for 2020 I think we can expect a lot more risks taken design wise. I mean wallpaper is definitely making a come back! I also see the use of color inside the home again vs all white interiors! Major color trends for this new year will be more neutral pastel colors...I mean even pink is making a come back! I see more and more clients starting to move away from the all white kitchens and add some nice neutral colors! Grey of course is going to be a major player for this next decade whether it be in furniture, paint color or even cabinets! From a financial perspective I am noticing that a lot of my clients are taking full advantage of the low interest rates banks are offering. They’re refinancing on their home to provide capital to redesign their space! This is a smart decision financially since you are putting your investment back into your property...which leads me to my next topic below.
The real estate market for 2020...
Real Estate:
As one door closes another one opens... I mean, thank goodness the economy has slowly climbed out of that last MAJOR recession! I foresee and hope that 2020 brings even more sales nationwide. Through my own experience and also speaking with other colleagues we believe 2020 will bring more inventory to the market as the house flipping business has become the “new” trend for private investors.
More and more people are buying up older inventory, remodeling the interior in less than 3 months and putting it back on the market...and people are loving it! It can be so rare to find a turn key ready home this day and age for less than a million, especially in the California market . The price point of $600,000-$900,000 has become so competitive! From an investor standpoint if you have the capital to invest in a single family home, flip it in 60 to 90 days its a no brainer.
I do, however, want people to realize that in order to flip a property as fast and efficient as possible you do want to seek the help of a professional like myself. Because I do this for a living I or anyone like my company has the contacts and resources to guide you through the process, which will help you make as much money as possible! Because I know the market as well as what my interior design clients wants are I can help ensure that you are designing your next flip to attract the masses!
Quick Recap for 2020:
To quickly recap of what's above: I believe 2020 is going to be a great year in design as
well as real estate! Of course you can never fully predict the new year especially with an election on the horizon, which is why the first 3 quarters of 2020 are going to be so crucial! Start planning now to maximize your next design or flip project! Always look at all avenues and contact me for any questions!
Remodel your kitchen in less than 6 weeks!
Currently I am working on a couple of kitchen remodels for clients and wanted to share some tips and tricks on how to get it done in the fastest time possible!
Tip 1: PLAN AHEAD!
Since no one wants to live in a kitchen remodel the best way to get this done with out wanting to kill yourself or your spouse is plan a head! To do this first lay out the entire floor plan with your design and kitchen fabricator. Then pick out and order all new finishes such as countertops, appliances, backsplashes and cabinets before starting construction. Since cabinets and countertops can take the longest if you can order in advance this will save you time when it comes to construction!
Tip 2: Pick out in stock items!
If you can it will save you a lot of time to pick out countertops, backsplashes, flooring and appliances that are in stock! If you don’t have to custom order anything then don’t! Cabinets of course will be a custom order, but other finishes you can find in stock can save you the headache of backorders as well as cost!
Tip 3: Find the right contractor!
Make sure when interviewing different contractors to always ask how many employees they have on their team, how many jobs they have going on and what their schedule is like. In order to get this remodel done the quickest you will want someone who has a crew of at least 4 to 6 guys that will be assigned to your job and your job only! Some contractors will say they have 20 guys but then never send you the same guy twice. By sticking to the same crew that knows your home from the beginning it will help save time and your sanity!
By using a designer such as MP James we always have our clients best interest! Since this is what we do we know the questions to ask, where to source the materials and who to hire!