Use Your Space

Square footage in a home is a valuable commodity, and yet it often goes underutilized. I've witnessed this to be the case whether a home is quite spacious or bordering on tiny.

A couple of years ago, I worked with a client in need of home staging services, as she prepared her home for sale. Like many people today, she and her family spent very little time at home, as work, school, and other activities occupied their time. After a thorough review of their home, their lifestyle and needs, it was clear that they didn't use half of the square footage they had. This was, in a way, tragic, as they were paying for twice as much home as they actually needed.

If you're currently considering a home purchase, be realistic about your lifestyle and your needs. Do not pay for space and amenities you really don't need or won't likely use. That money could be better spent pursuing your passions, saving for retirement, or countless other things.

Of course, many of us are trying to use all of our space, but we don't know how to arrange it. Much of residential construction over the last 15 years or so has focused on creating large, open, communal spaces - Great Rooms, as opposed to separate rooms for the kitchen, dining and sitting areas. The lack of interior walls can present challenges for homeowners, with regard to furniture placement, storage options, and noise control - particularly in homes with vaulted or cathedral ceilings. Consider incorporating some design and storage solutions that might be found in a loft, which is commonly a space with very few interior walls.

On the opposite end of the spectrum, I've been in some very small homes that really want for closet space, or virtually any form of storage. Homeowners tend to gravitate toward these types of homes when they're first-time buyers or in a period of transition, as the price of the home often reflects its "shortcomings." But these homes could serve as much greater opportunities for building equity, if only their owners would pay a relatively small price for a little creative vision and a really good handyman, which could greatly extend their stay and satisfaction in the home.

There are numerous resources available for those seeking a little inspiration to help make the most of their small spaces. Online sources for HGTV and Better Homes & Gardens offer valuable advice and lots of photos.

Look closely at each of the rooms in your home. Determine what the space needs - what could make it much, much better? Make a wish list for each room, gather photos either online or in home improvement/decor magazines to be used as a visual aid, and then begin contacting insured, professional "handymen" for competing quotes on projects. Work quotes are typically free, though be sure to verify this with each professional. With work quotes in hand, you can begin to decide which projects you'd like to tackle first, according to both your budget and your needs.

The bottom line is simply this: Make the very most of all the space in your home. After all, you're paying for it.

Backyard Bliss

Here, in Wisconsin, we’ve got colder temperatures for at least 6 months of the year – and I do mean cold. So, when the weather finally warms up, we like to spend as much time outdoors as possible – working, relaxing, entertaining, playing. And that’s why outdoor living space is just as important in colder climates as it is in warmer climates. We pack a whole year’s worth of enjoyment into a handful of fleeting months. And with the current state of our economy, it makes good fiscal sense to invest some vacation money quite literally in our own backyards.

So what does that mean – “outdoor living space?” Well, what began as a simple deck or patio, is taken a bit further. Main living areas that you find inside your home – such as a kitchen, dining area, and living room - are given their own distinct spaces outside. Just as you use design and décor to create a certain ambiance in your home, extend that sense of comfort, beauty, and utility, to your backyard. You’re not just a home owner, you’re a property owner – and that includes your backyard. It, too, is part of your investment, and becomes all the more valuable when you add value to it.

Outdoor living spaces can be simple or elaborate, small or grand, sophisticated or casual. One thing they should never be is boring. With so many options for decks, patios, plants, fencing, privacy screens, pergolas, arbors, gazebos, furnishings, lighting, and more, your backyard can be transformed from boring to blissful.

Now, whenever you consider a home improvement project, keep in mind the range of property values within your neighborhood. You may have elaborate plans, but a modest neighborhood may not allow you to see big returns on your investment when you eventually prepare to sell. If you have questions or concerns about over-improving your property, consult with an experienced real estate agent. We can give you an idea of your property’s current market value, both with and without your planned improvements.

And remember, you don’t have to complete every project for your backyard dreamscape this year. Create your overall plan and take steps to achieve it, one mini-project at a time.

Don’t Ignore Décor

Make no mistake - what makes a house a home is its décor. The paint colors, flooring, lighting, window treatments, and furnishings – collectively, they transform a space, giving it character and life. A house is practical. A home is emotional. That’s why selling a home can be so challenging for a homeowner, and it’s typically how buyers decide to write an offer on a property.

So, buyers – do not spend all of your money on your mortgage. Too often, I’ve seen nice properties overshadowed by their shabby furnishings. Décor is part of the investment you make in buying property – and most of it you get to take with you. Do not underestimate what good décor will do for you when you eventually seek to sell your home.

First-time home buyers, you have a great opportunity to invest in good décor, with the help of the $8000.00 tax credit you may enjoy this year. For a great way to stretch your dollar and purchase some fantastic furniture, seek out consignment shops in your area. The furniture is gently used – often looking brand new – and is substantially less expensive than what you’ll find at new furniture stores. Also check out garage sales, flea markets, and thrift stores for unique pieces that might simply need a little clean-up, a small repair, or a fresh coat of paint to bring them back to life. You could literally save yourself thousands of dollars, while infusing your home with great character.

Current homeowners, I know times are tough and money is tight, but there’s much you can do to improve your property – for little to no cost. Decluttering every space in your home will cost you nothing – and now is the best time to tackle that. Clothes, books, movies, games, lamps, furniture, artwork, knick knacks – if you no longer use it, need it, like it, or have space for it, get rid of it. Hold a garage sale to get money for what you can, and then give away the rest. Use the money from your sale to make additional improvements to your property.

Paint is one of the most inexpensive ways to make an enormous impact on your home – whether inside or out. And the beauty of paint is that you can always redo it if you have a change of heart about the color – and you won’t break the bank. Many paint manufacturers offer tools on their websites that allow you to experiment with color, so you have an idea of how various colors will look in your own home. Click here and here for examples.

A note of caution: the color you see on your computer monitor/screen may be different from the actual paint swatch at the store. Before making the leap to purchase, collect a variety of paint swatches at the store, and then return to the website on your computer for comparison. (Make sure it’s the same computer, as computer monitors vary too.)

If you’re planning to sell your home soon, complete as many "necessary" projects as you can before listing your property for sale. Take care of any peeling paint, loose stair railings, and any other repairs. Declutter the garage, closets, and rooms; pack up family photos and collectibles so they don’t distract buyers; give walls a fresh coat of paint if you haven’t painted for many years (use neutral tones – preferably warmer tones); thoroughly clean your home, inside and out; and tend to any yard work that could add to your home’s curb appeal. Furniture a little outdated? Consider slipcovers. They’re an inexpensive way to give old furniture a new look – and you can take them with you to your new home.

The more you do to prepare your home for sale, the greater your opportunity to sell sooner than someone who didn’t.

Homeowners, if you’re waiting for inspiration to strike before choosing a project, pick up a few magazines related to home décor, organization, and landscaping. You’ll find an abundance of ideas that will help spur you into action. It’s never too late to improve your home’s décor, and it’s never too soon to get started.