Hot Design Ideas for Your Home

We all want a little luxury in our lives, and staying up-to-date on current design trends is just one way to incorporate a bit of style into everyday décor. Whether you're just looking for a few new pieces to spice up your living room or you're ready to revamp the entire master bath, taking a few design cues from luxury real estate can be a great way to stay current and fresh.

Rather than sifting through countless magazines to stay abreast of these trends, check out our list of some of the biggest trends in recent years. 

Bringing Nature Inside: Elements from nature elevate home décor. Invite green plants into the house in all shapes and sizes. Lush ferns and delicate succulents create a sense of calm. Look to natural fibers for accent pieces, such as sisal and wool and organic shapes found in tree bark or rough-cut stone.

Brass Accents: Aged brass accents are popular for creating that vintage-inspired look. Add burnished bronze and brass pieces for a bold statement.

Mix and Match Metals: Don't be afraid to clash. Brass paired with silver and copper have been spotted in upcoming design trends. Metallic shades will add a retro flair to an otherwise dull room.

Stealth Electronics: Nothing feels more luxurious than the total integration of your home in the palm of your hand. Control your lighting, entertainment system and environmental controls, even your garage door, with just your phone. Integrate your security system as well. Several options are available that allow you to access strategically placed cameras in any room in the house.

Electronic Entry: Never get locked out again. Electronic integration continues to customize the residential market. Smart locks feature unique identification codes in a sleek touchpad. Available in many fine finishes, smart locks also boast high-end craftsmanship.

The Rustic Farmhouse: Farmhouse kitchens blend rural charm with modern design. Merging rustic touches with contemporary utility is on the rise in home renovation trends. Pair a farm-style tub sink with stainless steel appliances in an open floor plan to achieve this balanced style.

Library Retreats: Complete your luxury upgrade with your own literary sanctuary.  Advance your home office into a tranquil library to accommodate your interests. Unplug from modern life and sink into a relaxed pace, surrounded by priceless pieces of literature and culture.

Luxury incorporates sophistication and technology with natural and timeworn accents. 

Cost vs. Value: 2020 Home Improvement Projects With the Highest ROI

I often have people ask me about what home improvements bring the greatest return on investment.  Today I  received an email from RISMedia's Housecall with the article below by Jameson Doris in it , and I thought you might be interested in it, too.   It's a 2020 report on home improvement projects with the highest return on investment (ROI) from a newly released Cost vs. Value report. 

Curb appeal really does have a major impact on the return you'll see at resale. Among the top 10 home improvement projects with the highest return on investment (ROI) in Remodeling magazine's newly-released Cost vs. Value Report, nine are outdoor projects.

Topping this year's list is Manufactured Stone Veneer, a project that has consistently ranked toward the top of the list since the project was added to the report in 2015.

Unsurprisingly, the report shows an increase in cost for all 22 projects listed; however, there is also a consistent dip across the board in terms of what the perceived value of each of these projects is. This is likely due to a market that was anything but smooth in 2019.

"Why the difference? The most likely answer is consumer jitters," says Clay DeKorne, chief editor of the JLC Group, which includes Remodeling magazine. "While remodeling professionals need to stay on point, they can breathe easy. Remodeling activity is growing at a slower rate than in years past, but it continues to grow."

Nationally, here are the 10 projects with the greatest ROI, according to the 2020 Cost vs. Value Report:

Manufactured Stone Veneer (95.6% ROI)

• Average Cost: $9,357
• Average Resale Value: $8,943

Garage Door Replacement (94.5% ROI)

• Average Cost: $3,695
• Average Resale Value: $3,491

Minor Kitchen Remodel (Midrange) (77.6% ROI)

• Average Cost: $23,452
• Average Resale Value: $18,206

Siding Replacement (Fiber-Cement) (77.6% ROI)

• Average Cost: $17,008
• Average Resale Value: $13,195

Siding Replacement (Vinyl) (74.7% ROI)

• Average Cost: $14,359
• Average Resale Value: $10,731

Window Replacement (Vinyl) (72.3% ROI)

• Average Cost: $17,641
• Average Resale Value: $12,761

Deck Addition (Wood) (72.1% ROI)

• Average Cost: $14,360
• Average Resale Value: $10,355

Window Replacement (Wood) (68.9% ROI)

• Average Cost: $21,495
• Average Resale Value: $14,804

Entry Door Replacement (Steel) (68.8% ROI)

• Average Cost: $1,881
• Average Resale Value: $1,294

Deck Addition (Composite) (66.8% ROI)

• Average Cost: $19,856
• Average Resale Value: $13,257

Nationally—and on the other end of the spectrum—here are the 10 projects with the lowest ROI:

Master Suite Addition (Upscale) (51.6% ROI)

• Average Cost: $282,062
• Average Resale Value: $145,486

 Grand Entrance (Fiberglass) (53.3% ROI)

• Average Cost: $9,254
• Average Resale Value: $4,930

Major Kitchen Remodel (Upscale) (53.9% ROI)

• Average Cost: $135,547
• Average Resale Value: $72,993

Bathroom Addition (Mid-range) (54% ROI)

• Average Cost: $49,598
• Average Resale Value: $26,807

Bathroom Addition (Upscale) (54.7% ROI)

• Average Cost: $91,287
• Average Resale Value: $49,961

Bath Remodel (Upscale) (56.6% ROI)

• Average Cost: $67,106
• Average Resale Value: $37,995

 Master Suite Addition (Midrange) (58.5% ROI)

• Average Cost: $136,739
• Average Resale Value: $80,029

Major Kitchen Remodel (Midrange) (58.6% ROI)

• Average Cost: $68,490
• Average Resale Value: $40,127

Roofing Replacement (Metal) (61.2% ROI)

• Average Cost: $40,318
• Average Resale Value: $24,682

Bathroom Remodel (Universal Design) (62% ROI)

• Average Cost: $34,643
• Average Resale Value: $21,463

The 2020 Cost vs. Value Report compared the average costs for 22 popular remodeling projects and how much of that value they retained in 101 different U.S. housing markets. View the full report, including project descriptions and city-level data, here.I received an email with this article in it and thought you might be interested in it, too.   

What is "Subject-to" Real Estate?

If you've heard people talk about "subject-to" real estate, you might be curious what that means and if it would be a good investment for you. Briefly, "subject-to" real estate means you're buying the property, but the loan on that property stays in the name of the existing seller.  You're making your purchase "subject-to" the existing mortgage or lien.

Image by Ricarda Mölck from Pixabay

Why Would Someone Buy Real Estate This Way?

When you buy a "subject-to" property, you don't have to get a mortgage in your own name. That can be perfect for people who don't want to tie up their credit or funds.  It also works well for those who might not be able to qualify for an existing mortgage.  Since you're not putting your name on anything that involves the mortgage, you're free and clear from that standpoint. But you'll own the house, and you'll make the mortgage payments.

Is This a Good Wealth-Building Tool?

This can be a great tool to build wealth when it's used correctly. It's very important that you continue making the seller's mortgage payments on time, and that you get everything in writing. But since you don't have to qualify for a mortgage yourself, you can choose great properties that people really want to sell. Often, this is because the owner is in foreclosure. By buying the property "subject-to", the owner doesn't have to go through foreclosure proceedings and have that on their credit report.

How Much Risk is Involved in This?

As with any type of investment, there is always risk. The biggest concern is that the seller of the property will file for bankruptcy. When that happens, the house could be included in that filing and would be foreclosed upon by the lender. You could lose your investment, since you aren't the one who has the property's mortgage in your name. Another risk is the due-on-sale clause in the seller's mortgage. Almost all mortgages have these, but they're often not enforced. Still, if the lender wanted to enforce that clause, they could demand that the entire mortgage be paid if the deed transfers into your name.

How Many "Subject-to" Properties Can Someone Own?

Theoretically, there's no limit to the number of "subject-to" properties that you could own. As long as you can make the payments, you can keep buying these properties. You don't need any credit to get started, and you won't really need much cash, either. You'll simply have to be willing to take a little bit of risk to build up your real estate portfolio. With that in mind, though, it's not a bad idea to have an attorney help you, at least right at first, to be sure you're protecting yourself and the seller as much as possible.

Prepping Your Home for Sale

s you prepare to put your home on the market, consider prioritizing the tasks that will make your house sale-ready on a budget:

• Clean and remove clutter from your house. Empty spaces encourage potential buyers to imagine themselves living there and a clean house looks well cared for. Remove clothes from your closet to show buyers they will have more than enough storage space.
• Add curb appeal. Spend some time tending to your exterior. Focus on trimming bushes and trees, weeding flower beds, repairing gutters, fixing peeling paint, putting in new mulch or gravel, weeding and repairing driveways and walkways, and installing decor like wreathes, pots, and house numbers.
• Paint walls neutral colors. Now it’s really time to say goodbye. Your home may lose some of its character in white, but it’s more appealing to a wide variety of buyers. People can also tell when a coat of paint is fresh and new!
• Make home repairs before you show the house. Focus your attention on things like leaking faucets, loose doorknobs, stained tiles and grout, running toilets, broken windows, and burned-out light bulbs
• Do small updates to spruce up your home for a dime. Ensure that the appliances match, get new cupboard knobs, or stick on new wall tiles. Small design touches go a long way.
• Give each room a well-defined purpose. Potential homebuyers find it inspiring. Even if you’ve been using the room for many tasks, pick one to showcase.
• Check the flow of your house. Ensure that furniture is not blocking people’s paths.
• Create a blank canvas. As with the simple wall colors, keep the decorations simple and free of personal items. The goal is for potential buyers to be able to imagine their own decorations in the house.
• Open the curtains. Let light in and turn on inside lights, and include some potted plants for a bit of green.
• Produce good smells in your home. Avoid cooking bacon, microwave popcorn, or anything with a lingering smell on the day of an open house. Instead, use the morning to do some baking.

Taking a critical eye to your house can help you identify many areas that need improvement. Prioritize this list to make your house move even faster on the market. If you want more suggestions, give me a call today.