I asked Realtor Geoff Hill to drop by so that I could ask my questions about what improvements return the best value. I'm grateful that he gave me over an hour of his time.
Kitchens, baths, and adding square feet are the best investments, he said, as long as the improvements have "universal appeal." He remembered a house with a very nice, high-end urinal installed in a bathroom. Not going to see that money come back. After all my questions, Geoff cautioned that you can't put something like this together with only money in mind. It has to be a labor of love, and that may mean less profit.
He talked about "continuity of design choices," another way of saying that quality design has value. He strongly encourages sellers to move out and pay a few thousand to have the home professionally staged.
We discussed the target market. Sure, my empty-nesters (like Tanya and Kevin or Sharon and Norm) are obvious, but Geoff said there are plenty of childless couples, some in their 20s, with this kind of money to spend. And couples with new children who expect to move again by the time the kids are in school. Or who aren't considering public schools anyway. (He mentioned a private academy up on 145th--perhaps he meant Lakeside School? )
He imagined a scenario of a couple looking to downsize. They've got a super-size home in a development, and they're looking for something more "genuine," a house that costs less to heat and to operate. They would find a "continuity of design choices" plus high energy efficiency appealing.
It seems that two suites would be a plus. A "true MIL" in this neighborhood would be rare, which would mean low inventory, which is good for a seller. But its vital that it be a "flex" room. A small kitchen is great, for example, for a man cave, but if it starts looking too man cave-y, or too much like Gramma's room, to the point that it can't be a rec room for the whole family, then it gets into odd. That is, it fights "continuity of design choices." He looked at Peggy's A.7 and liked it.
I asked whether more, smaller rooms were better than fewer rooms and a feeling of spaciousness. He said, in general, spaciousness is good, but "don't lose a bedroom" to get it. He described a home with 3 small bedrooms remodeled into a home with 2 bedrooms and a real master suite. Not clear that that's a win--it works for buyers looking for a real master, but it turns off families with two kids--the middle of the bell curve.
When you think of 2-bedroom homes, you're competing with condos and townhomes. There are few 3-bedroom condos, so that's the norm in houses. If people are looking for 3-bedrooms, they put that on their search and the 2-bedroom homes don't show up. So, having only 3 bedrooms limits your market a little. Four would expand the market a little.
I asked him if the new front door should open into the Trees Room, or whether it should be near the living room and let the Trees Room come later in the experience, and he was torn. He does think that a truly discrete entry is a plus--there's a place for it on MLS form--and that entry doors that open directly into the living room are not as good. He thinks the existing entry by the garage is not working, because you have no idea where you are when you come in that way.
Likewise, ADA accessibility is on the form, so if you can check that box, you'll pop up on every search that's looking for it. Don't make it obvious, or emphasize it, though--it's a turn-off for the able-bodied.
Hydronic heating is goodness. Buyers up here are tech-savvy and tend to be looking at operating costs when they consider a house. Radiant heat is simply more efficient. It obviously ups the apparent value for Geoff.
On the other hand, he has "mixed feelings" for metal roofs. Obviously, you go from a 40-year roof to a 100-year or lifetime roof, and that's good. But "If metal roofs were worth the extra cost, you'd see a lot more of them."
We talked about kitchens. He thinks the gold standard is Viking, and that there is some value in buying range, refrigerator and dishwasher of the same brand. I mentioned Wolf-like NXR, and he wasn't familiar with it, but thought it would be fine. What about ultra high-end, like Bertazzoni? There are some really picky chefs out there, he said, and you're probably not going to please them anyway. The difference between looks built-in, sort of, and truly built-in in refrigerators is just not worth the money.
A single-bowl stainless steel sink is goodness, certainly no problem with it. Quartz counters, like Caesarstone, seem to be the trend, granite's day was a few years ago. That is, no strong opinion, but a sense that fashion dictates what's in. Actually, thinking about it, the current trend is more eclectic. He said John Lasswell installed a new concrete product in his own home that he was very happy with, and Geoff has seen concrete counters more and more. More "unique" counter materials.
Cabinets are the big expense. The existing painted wood cabinets are fine, but stained wood is more sought-after, in Geoff's opinion, other things being equal. But, he really likes the slick high-gloss cabinet doors he's seen, too. Wood isn't strictly required, and he could imagine scenarios where the wrong wood fights the rest of the design.
I was a little surprised to hear that refinished hardwood floors--being able to advertise "original hardwood"--is a plus. Nothing wrong with all new, too, but there's a value to "original."
Female buyers fantasize about long bubble-baths that busy people never have time for in actuality. Most people of both sexes take showers. Number of baths seems to be less important than number of bedrooms, because people don't search for a minimum number of baths. One trick, if you want to increase your bath number, is that a utility sink counts as a 1/4 bath. So does an outdoor shower head. Fixture count in a bathroom is another metric. A master bath with two lav sinks ("Jack and Jill sinks"), a toilet, and two shower heads is a five-fixture bath even with no tub. Two shower heads appeals to people who don't want anyone else (i.e., their spouse) messing with their shower head.
Should I finish the garage? Yes, without question. Drywall and paint are cheap, and a finished garage makes a good impression.
Should I remove the popcorn ceiling? Oh my god yes. Just get rid of it. We talked about potential asbestos, and how having it done professionally is expensive (starting with testing it), but that homeowners are allowed to do it themselves. I think it's a recent thing and is unlikely to have asbestos, but I didn't say it out loud because Geoff would just have shrugged.
Should we finish the basement? Yes, that's also a no-brainer. Even with the minimal ceiling height and outdoor access. People love to see a place for their seasonal storage, and it's a lot easier to imagine if its finished. Besides, drywall and paint are cheap. We checked my home sales spreadsheet--the average $/SF is $330. Finish the 300 SF basement and you've added $99,000, conceptually. It would be better if there was inside access, of course, but yeah, finish it.
Last bit of advice: Consider going for some kind of energy certification. What about environmental certification? Geoff explained that energy is a two-fer: I'm proud that I'm helping the planet, and I'm also looking forward to the monthly savings. An environmental certification (e.g., use of sustainable materials) just doesn't have the same impact.
Saving the best for last. I asked Geoff, casually, whether a flat membrane roof on the Trees Room would be seen as a oddity--why wasn't the roof consistent--and he said it might be cool to have a pyramid roof on the pop-up section that matched the rest of the roof but was made of glass. Look up at the trees, look up at the stars, let the sunlight flood in. That would be so cool! I immediately sent email to SuperSky and Acurlite.
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