Monday, 30 March 2009

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

Thank you again for your continued support. Today I am posting the final part of these series.

Iván Meade - What are a home’s major selling points?

Brenda Russell - Location. Presentation. Price.

Roger Jones - Location is most critical - you can change finishes easily enough, add on or even go so far as to tear a home down and rebuild, but you can not create the overall setting and proximity to the amenities you enjoy that the right neighbourhood provides.

Tony Joe - Location, condition, tidiness and features which set it above the direct competition. Did I mention location?


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Pics Feb 07 107 Before & After Marifield – Meade Design Group


Iván Meade - Do you find homes sell better when furnished or vacant?

Brenda Russell - If the home shows well then furnished is best. If the home is very dated as well as the furnishing...then vacant.

Roger Jones - Definitely when well furnished.

Tony Joe - Seems most prospective buyers believe they can envision what a vacant house would look like furnished but in reality this is seldom the case. Oftentimes, lack of furniture or belongings can over accentuate weak points such as smaller living spaces or poorly placed structural elements.


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Before & After Spring Bay – Meade Design Group


Iván Meade - Is it wise to sell your home with window treatments throughout?

Brenda Russell - Absolutely yes. Buyer's are calculating if they have to also buy blinds or drapes for all their windows. If the window treatments are very old, worn or doesn't help the room look fabulous then I would suggest removing them entirely or replace them with a modern blind.

Roger Jones - Most prospective buyers appreciate the value of quality window treatments in a home - this is an area in which help from your designer would be particularly beneficial.

Tony Joe - Window treatments can very much be a matter of personal taste. I cannot recall ever losing a deal or having a seller sell for less based solely on the inclusion/exclusion of window treatments. If you plan to keep them, just be certain to clarify this in the purchase contract as they are generally deemed to be included as part of the sale.


imageimage Before & After Spring Bay – Meade Design Group


Iván Meade - What would you tell someone who is asking about the benefits of hiring an interior designer for their home?

Brenda Russell - A designer is always an asset. They bring a trained and talented eye (assuming you hire a trained and talented designer of course) and an unbiased opinion of what a room or area or home needs or could use. To what extent their suggestions or services are used is a personal choice of course but often just hearing an opinion can be of enlightening.

Roger Jones - Enlisting the help of a professional who's expertise you feel confident in is always the best way to get a job done in the shortest amount of time and with the least complication!

Tony Joe - Do not hire a designer based on low price. Select someone with a proven track record, practical knowledge, a portfolio of recent work and a list of glowing testimonials. In other words, hire Ivan Meade!


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Before & After Spring Bay – Meade Design Group


Brenda Russell

www.brendarussell.ca

Roger Jones

www.jonescompany.net

Tony Joe

www.tonyjoe.ca



MEADE DESIGN GROUP - THE BLOG. Copyright 2007-2011

11 comments:

echito said...

Very insightful. This is all very good information for me as I am thinking of whether or not to purchase my first home this summer.

It's also great to hear the real estate community really does support, appreciate and value our line of work.

Kudos to you!

Things That Inspire said...

Again, another great post. Although location is of utmost importance in this tricky market, I have found that sellers are still putting a very big premium on the location, even if a house is very average and/or in need of a lot of repairs. For this reason (along with the fact that it is all but impossible to get a jumbo mortgage in the states right now - and most houses in a premium location are of a premium price), many of the expensive homes are just sitting on the market in Atlanta.

I am 100% in agreement about the value of hiring a designer to help with a project. Professional designers have an understanding of scale and proportion that non-designers often do not, and I have found from personal experience that they have such a great knowledge about what works and does not work in a space - from fabric to paint color to furniture. You can always tell when a home has a professional designer behind the decor - it looks so much more pulled together. (note: I am not a designer - just a big believer in the value of designers!)

Brillante Home Decor said...

Great Post. If a house is for sale it definetely needs to be furnished. The space looks much smaller in a vacant house and most people don't have a clue of the use of space. That is why smart developers always have display suites. If the furniture has to go it must be replaced with rentals or edited,re-arranged and spruced up.
A few hundred or a few thousand dollars spent (a good investment) will make the difference between a house selling for a good price or not selling, having a considerable price reduction and still stand there For Sale for months.
In this market? Professional Staging is the answer!

Maria Killam said...

That last kitchen is one of my favourites that you've done! Love those square niches!! Interesting to hear that an older home with old furniture should be shown empty.

Very informative post!! Thanks.

A-M said...

Your 'before and afters' are spectacular. So glad I found you. A-M xx

DesignTies said...

I just read all three parts of your series -- the information your guests provided is incredibly valuable. Ivan, thanks to you and to Brenda, Roger, and Tony for taking the time to put this series together :-)

I think if you want/need to make changes to your house, you should go ahead and do it, even now when the economy isn't the greatest. You're living in your house, it should be comfortable and reflect who you are and what makes you happy. But keep in mind what your guests said -- don't overspend for your area, and don't do things that will only appeal to a small group of potential future buyers. Unless it's something that will be easy and inexpensive to change.

In the seven years that we've been in our home, we've done landscaping, built a fence, deck, and stone patio, installed hardwood flooring in and finished the loft, just about finished the basement, upgraded the bathrooms (nothing major, more like mini-makeovers), installed wainscoting in the living room and dining room, and done a LOT of painting. We've saved money by doing the work ourselves, and I'm pretty confident that we'll get back more than the amount we've put out if/when we sell. And in the meantime, we're enjoying all the changes that we've made (and planning a few more!!)

Thanks once again to all four of you :-) And Ivan, all of your "after" pics are stunning :-)

Kelly

Michelle said...

Great transformations Ivan...and great advice!

pve design said...

Wish you were next door as we are about to embark a a renovation, I know it will be a wise investment as we are not planning to go anywhere. Great vision, love the clean lines, and mod yet functional design.
Love what I see.

paula said...

what stunning work.

Daniella said...

This is amazing! I had no idea there were any interior AND graphic design groups out there! That's like the ideal job. And you have so many great resources on your blog! I checked out your portfolio on the website as well, great work!

Musette said...

Absolutely lovely work! I agree that one should invest wisely in home renovation - the key word being 'wisely'. I just moved from a prime 6-figure house in a great urban location to a shotgun shack in the country for biz reasons (real country, btw - cows are in the field 2 blocks away). This entire house cost less than my previous kitchen renovation. This is important to note because the most difficult thing I have to do is change my design mindset and renovate to suit the value of this house. No matter what I do to it, it won't ever sell for more than $90K at the most because of the location (we paid $35K - yes, $35K). So, in my opinion LOCATION plays the most integral part in renovation-value, whether it's up or down.

Btw - it's a way more interesting challenge than designing UP, let me tell you!:-)

Thanks for sharing all your gorgeous work!