Saturday, 28 March 2009

Is it wise to invest money in your home during these economic times? Part 2/3

I feel really encouraged after reading the comments from our readers in the first portion of this post. The comments definitely reflect the reality of our industry and where we are now as a society.

Here is the second part of the entry.

Iván Meade - Does colour play an important part when buyers are viewing your home?

Brenda Russell - Absolutely. Human beings have colour vision and they respond to the colours around them. The colours in a room can make you happy, uncomfortable, relaxed or jumpy as well as making the room seem larger or smaller or open or closed.

Roger Jones - Definitely - certain colours can be completely off-putting to a prospective buyer while others create an environment in which the buyer can envision their own lifestyle.

Tony Joe - Yes. Bold colours can often lead to distraction from the other positive attributes of the home so selecting a palate which is current and tasteful yet neutral are important. Remember to play for a large audience, not a small one.

11 may 05 001 wilson-penthouse Before & After Wilson Penthouse – Meade Design Group

Iván Meade - What is the most popular architectural and interior design styles in homes right now?

Brenda Russell - Eco - consciousness. Modular. Interiors are clean lined and uncluttered. On the other hand, there are places like Oak Bay where there are still a great many traditional style homes with comfy and inviting interiors.

Roger Jones - Clean, uncluttered lines and quality finishes and fixtures are always in style - the richness of dark wood (flooring and cabinetry) continues to be popular.

Tony Joe - Angular surfaces, glass elements in back splashes and counters, industrial themed lighting and plumbing fixtures. Owners and builders are incorporating more and more sustainable green aspects to homes today.

image image Before & After Shoal Point – Meade Design Group

Iván Meade - Do you think they will have longevity?

Brenda Russell - Well, the Buddhists say that nothing lasts so in the larger philosophical sense I guess that is the way of all things but Traditional is called that for a reason and the planet is demanding that we pay attention to the environment so I think they are here to stay. As for interior designs, comfort, simplicity and style always dictate. Luckily just how to do that seems to know no bounds in terms of creativity so we can always spruce up the cave.

Roger Jones - With the trends toward more streamlined living spaces and greater quality, well organized and uncluttered interior spaces will stand the test of time. As far as flooring and other materials, we should continue to see all kinds of great new sustainable products for the home which are both good for the environment and help to promote a healthy home environment.

Tony Joe - Since there appears to be some degree of ‘retro’ in texture and shapes, I believe so. It’s amazing how the architectural designs and construction of the 80s and early 90s have not aged well at all.

25 june 07 066 studio_019 Before & After Meade Design Group Studio

Iván Meade - When is it the right decision to improve rather than move and vice versa? Whether it be adding square footage, the ability to rent space or just changing materials.

Brenda Russell - There is no formula unless you are a developer or something. For regular citizens a home is a very complex emotional center as well as often being the largest asset and liability a person has. As a home it gives you safety and security and warmth and comfort and history. Dealing with it takes money and a bank and business thinking. Living in it takes love.

Roger Jones - A home owner basically must consider what investment is required in order to make the necessary improvements to the property and then determine realistically whether the end result will justify that investment. Will the home be worth the sum of the current market value plus renovation costs? Are you able to increase the usable living space of the home by enough to warrant an addition or significant renovation? Does the rest of the neighbourhood justify the type of improvements being considered?

Tony Joe - Location here is key. Oftentimes a move cannot replicate a fantastic location so renovation in such cases is beneficial. Just be careful not to improve beyond what can be sustained in the immediate vicinity.
Increasing square footage is traditionally the only true way to add value to a home.


meade-0009 Before & After Wessex – Meade Design Group

Please stay tuned for part 3 coming soon.

Brenda Russell

Roger Jones

Tony Joe

MEADE DESIGN GROUP - THE BLOG. Copyright 2007-2011


Michelle said...

Great interviews Ivan! This is really on topic, and I agree with all...residential will always be love what you see or you don't.

Things That Inspire said...

As I am in the thick of a search for a renovation project or lot, these posts are great!

I agree, location is of the utmost important. There are other factors too. I live in a neighborhood that is in a great central location, but the houses are on small lots and cannot be added on to. I am looking at neighborhoods where improvements/renovations will not price the house our of the neighborhood. Fortunately, in Atlanta, there are lots of neighborhoods where the homes are older, but people gut and renovate and make them amazing on the inside, and this only enhances the value (maybe not now, but you know what I mean).

I would love to see a post on this quote: "It’s amazing how the architectural designs and construction of the 80s and early 90s have not aged well at all." I have observed this, but would love a more informed and detailed perspective!

Brillante Interiors said...

The transformation you created in these rooms is amazing and it justify the use of a professional Designer.

custardbydesign said...

what a great topical and of the moment interview - i really enjoyed reading this...

qerat said...

First of all I love your picture.
I think the questions are very important too. These are crazy times, I think lots of people (home owners) are confused as to what they can do with their property. The reccesion has reached global proportions, even here, I know many people that want to sell and not sure what to do, spend and make it look better so that they have a better chance, or keep things as is and let the new owner (if there is one) make the changes.
Great interviews. great help.

Maria Killam said...

Wow you are such a great designer. I have been trying to figure out what to do with a huge loft wall in a clients apt (she's renting so doesn't want to spend money on large piece of art) and block painting it like you've shown here might just be the solution (although it's high, not sure if she'll want to hire a painter to do it) but I sure love what you've done here!