Lee Morof's Real Estate Blog

Knowing what you want before you start looking is a big help when house-hunting. Giving the list of ‘must-have’ items to your real estate professional a few days before you begin touring listings is a great idea because they can find homes that meet as many of your criteria as possible.

It also helps on a more personal level, since being organized and knowing what you want will help you quickly identify whether or not homes meet those standards.

Is it a ‘Must-Have’ or a ‘Nice-to-Have’?

The debate between “I need it” and “I want it” is as old as time. Thinking back to childhood, when the desire for a cookie was met with mom’s stern “not before dinner,” some children seem to develop a magical ability for reasoning that voiced a desperate need for cookies before dinner, but mom was never fooled. The same goes for the ‘must-have’ list for your home search.

There are items that you want and certain ‘deal breakers’ that you cannot live without. An absolute ‘must-have’ might be proximity to work or certain schools, whereas desirable features could include a shed or a built-in barbeque pit. Knowing the difference between something you want and something that is absolutely required can save you a lot of time and money.

How to Organize an Effective List

Write down everything your dream home would have, then ask yourself how necessary each item is. Rate them by priority, whether an absolute requirement, something you would definitely prefer, something for which you would consider a compromise, and something that you don’t really care that strongly about. That first group is your ‘must-have’ list. The second is your ‘nice-to-have’ list, which is a great guiding star for choosing between homes that meet all of your ‘must-have’ items.

Some Suggestions for a Great List

Location, location, location – The top of any good ‘must-have’ list should be location. No matter what else is changed in a home, the location will always remain a constant. Decide what you want to be close to or far away from and make sure the grounds and neighborhood are all acceptable.

Bedrooms and bathrooms – Does everyone need their own room? Do you need a guest room? Could everyone share one bathroom? Ask yourself what you need at a minimum to facilitate everyone in your home.

Energy-efficient windows and good insulation – It may seem technical, but an energy efficient home can save you a lot of money in the long run. Don’t let money seep through a poorly insulated home.

Space for pets – Not everyone has pets, but for those who do it is a good idea to think of them in your ‘must-have’ list. After all, your new home is going to be Fido’s new home too! A fenced yard or a dog run might be a good idea, but also consider whether the space would allow you to add your own later.

Call your real estate professional today to start house-hunting, and don’t forget your new list!

Value is defined as the importance, worth or usefulness of something; to estimate the monetary worth of something. When the subject is a home, and what adds value to it, then breaking it down into its most common denominator is necessary.

A family looking for a home decides that it has enough space, that there is room to expand perhaps, and that the home would be handy for entertaining guests. Adding a pool to the mix greatly improves the form and functionality of a home. Below, we’ll explain why there are few home renovations or additions that add more value than a swimming pool.

Pay Attention To The Area

Both HGTV and Better Homes and Gardens agree that homeowners make an error in adding a pool when the area or region is not supportive of pools. Homeowners living in hot humid climates and with pools all around them will benefit from the addition of a pool – but would you install a swimming pool in Alaska? In warmer climates not only will a pool be cool and fun on a hot summer day, but it will be worth something to the next buyer.

Those living in areas not so warm and muggy would only benefit from the addition of a pool if the neighbors had one – a phenomenon known as the ‘social proof’ effect. Regardless, the National Association of Realtors, or NAR, reports that pools add 7.7 percent to the average property value. The figure jumps to 11 percent for hot humid areas, so if you’re in a humid area, installing a pool might be a worthwhile expenditure.

Outdoor Renovations Are A Hot Trend

The outdoors has made a comeback whose scope is unbelievable. The popularity of outdoor rooms, cascading decks, patios with pergolas and landscaped walks bears this out. Homeowners are adding trendy outdoor rooms in addition to lush landscape, hardscape and water innovations for many reasons:

– Enjoying nature reduces stress

– Families are spending more time together

– Networking is more fun over a burger than over a phone

– Many outdoor rooms are sustainable

Few will argue that these points are important. A high-quality pool can serve as the focal point for a yard or greenscape. Many homeowners build pools to highlight the architecture, for example, with stones and waterfalls to complement the landscape. The object is to make the whole package useful and worthy to the next buyer.

In Short: A Pool Will Lead To An Increase In Value

Factors vary in calculating the pool’s effect on property values. The size, a diving pool vs. a play pool, the configuration, (i.e. square, oval, kidney-shaped, etc.) and the extent of the landscaping and decking are such factors. Appraisers reflect that a pool will add between 10 and 30 percent to the home’s resale value.

Folks love a pool for swimming any time they wish, in the privacy of their home. For some, that alone is the only impetus they need to add a pool. Other buyers appreciate a pool because of the enjoyment it brings their children. Thus, value and applicability are much the same.

A qualified real estate agent can help you determine how much value a new pool will add to your home. Contact your agent before making this investment to ensure it will prove worthy.