Louisville Homes Blog: #1 Real Estate Blog in Louisville, KY

Home Money Is Spent on DIY Home Improvement

May 14, 2010 Home Improvement

The good folks over at Fixr are making some amazing infographics. Their last one, Your Guide to Roofing Materials, was very well received and I’m sure you’ll appreciate this one as well.

Do-It-Yourself (DIY) is huge today! With the housing market still working to bounce back, more Louisville home owners are spending money fixing up their existing homes delaying a move to a new home. This despite the fact that Louisville home inventory is now 9,200 properties!

If you’re a Louisville home owner, feel free to click on our Home Improvement category for all the posts related to improving your Louisville home.

Tags: DIY, Fixr, Home Improvement, Louisville home owner

Top 8 Home Upgrades According to Kiplinger

Mar 9, 2010 Home Improvement

With many homeowners looking for the market to rebound before selling, home improvement is now a hot topic! I bet Lowes and Home Depot are enjoying significant growth these past three years.

Let’s put aside the discussion about the money you’d gain by buying a new house at this low point in the market and focus on which mid-range home improvement projects are going to give your Louisville home the best bang for your buck.

According to Kiplinger, these are the top eight home improvement projects.

1. Reface Your Kitchen Cabinets
Rather than redoing the entire kitchen for $25,000-$50,000, resurfacing your cabinets is an easy, cost-effective upgrade. Having your cabinets repainted will cost you between $4,000-$6,000, but handy homeowners might tackle the project themselves.

2. Replace the Sinks and Faucets
Kitchen sinks may get no respect, but they sure get a lot of use. Sinks have come a long way in design and function. The current trend is toward undermounted sinks (shown here), which looks great and are easier to clean. Such cast-iron and stainless steel sinks cost around $1,000.

3. Replace Your Countertops
Improved laminate countertops are the more affordable options at $25 to $50 per linear foot and silestone carries a $50-$125 per linear foot price tag. For a more expensive designer look, concrete or recycled glass might be attractive options.

Three projects complete and your Louisville kitchen is looking great! Now let’s tackle the bathroom!

Tags: Home Improvement, home upgrades, Kiplinger

Energy-Efficient Rebates Pushed to Spring

Oct 20, 2009 Home Improvement

The Federal government is notorious for spending money it doesn’t have. These housing rebates are just one of a hundred examples.

The federal government will not distribute $296million in federal funds until after Nov. 30, leaving scant time for the state to print, distribute and begin processing rebate coupons. Instead, Kentucky is aiming for a springtime campaign to spread around its share of the money — estimated at $4million.

Kentucky home owners can still upgrade their homes now, but won’t see the money until Spring. Before you buy, check the list of criteria required to qualify for the rebates. This won’t be listed until next year but the Department of Energy grants Energy Star status for the following appliances:

Boilers
Air conditioners
Clothes washers
Dishwashers
Freezers
Furnaces (oil and gas)
Heat pumps (air source and geothermal)
Refrigerators
Water heaters

Tags: Energy Star, Home Improvement, tax rebates

Top 10 Louisville Home Improvement Projects

Sep 25, 2009 Home Improvement

Let’s be honest. In this economy, money is tight. People are now being very creative in how to keep more money in their own pockets. Home improvement is one great way!

Here at LouisvilleHomesBlog.com, we want to provide the very best in real estate information and advice so that you can make the decisions that best fit your situation. With that in mind, the National Association of Realtors publishes a Cost vs. Value Report every year. This is great stuff! What’s even better is when you find data for our specific market. That’s what we have and you’ve come to the right place.

The following home improvement projects are ordered by Cost Recouped. This data is also specific to the East South Central region where Louisville KY real estate is located. This region contains Tennessee, Mississippi and Alabama as well.

1. Siding Replacement – 91.5%

The average costs for foam-backed vinyl siding is $11,111 where the resale value increase is $10,165 for a cost recouped percentage of 91.5%. Fiber-cement siding is only slightly less at 90.2%, so it’s also a good choice. Vinyl siding, without the foam backing came in much lower at only 84.6%.

2. Deck Addition – 85.2%

The average costs for adding a wood deck addition to a Louisville home is $8,903. This increases the resale value by $7,588 for a cost recouped percentage of 85.2%. Projects like these can also add a bit of “wow factor” for lower priced homes and could possibly be necessary for homes in more expensive neighborhoods where having a deck is expected. Using composite decking only returns a 71.7% for Louisville Kentucky.

3. Basement Remodel – 83.9%

The average costs for a mid-range basement remodel is $53,552 where the resale value increase is $44,924 for a cost recouped percentage of 83.9%. These numbers are considered average for our area so you can expect there is potential to spend much less or much more. In either case, remodeling an unfinished basement in Louisville is a very good investment, especially when you consider that the national average is only 72.9%.

4. Bathroom Remodel – 83.1%

The average costs for a mid-range bathroom remodel is $14,413 where the resale value increase is $11,973 for a cost recouped percentage of 83.1%. An upscale bath remodel comes in at $47,265 and increases the resale by $37,471 for a recoup of 79.3%. Each of these remodels beat the national numbers by 9% so they are smart choices for Louisville home sellers.

5. Window Replacement – 81.8%

The average costs for vinyl window replacements is $12,289 where the resale value increase is $10,049 for a cost recouped percentage of 81.8%. This number is several points higher than the 76.2% recouped cost for using wood replacement windows.

6. Kitchen Remodel – 81.1%

The average costs for a minor kitchen remodel is $20,307 where the resale value increase is $16,461 for a cost recouped percentage of 81.1%. A major kitchen remodel comes in at $106,369 and increases the resale by $79,050 for a recoup of 74.3%. Currently, the kitchen is the hottest room in the house for Louisville home buyers. If yours is in need of updates, this may be the home improvement project for you.

7. Attic Bedroom – 79.8%

If this is a possibility for your home, you’ll see an average addition cost of $42,277 return $33,749 for a recoup value of 79.8%. This also adds square footage to your home which may attract more buyers than previously possible.

8. Bathroom Addition – 73.1%

The only case where the upscale version beats the mid-range version is the bathroom addition. Adding an upscale bathroom in our region costs $67,217 and returns a resale value of $49,149 for a recoup cost of 73.1%. The mid-range bathroom addition only returns a 69.5%.

9. Two-Story Addition – 72.1%

Though very pricey—$131,511—the two-story addition returns $94,791 for a recoup value of 72.1%.

10. Backup Power Generator – 69.9%

Rounding out our Top 10 Louisville Home Improvement Projects is adding a backup power generator to your home. The cost is $12,820 which yields a resale value increase of $8,957 for a cost recouped percentage of 69.5%. This beats the national average of 57.2% by more than 12%.

As you might guess, all these numbers are down from 2007 levels. It also should be mentioned that the publishers of this report only track certain home improvement projects, usually just the larger ones, so smaller projects can possibly yield even more. Contact your Realtor® (or drop me an email) for great advice on what will give your Louisville home the most bang for the buck.

Tags: Home Improvement, louisville ky, National Association of Realtors

Home Improvement Costs vs. Values for 2008

Apr 10, 2009 Home Improvement

I posted Are Replacement Windows a Wise Home Improvement? last month with the chart you see below. Today I thought, why not include the whole story for you?

So here is a link to the official 2008 Cost vs. Value Report: Still Many Happy Returns for Home Rehabs. If you want to know how different home improvement projects affect the value of your home, this stuff is information gold!

Make sure you check out the whole article but I wanted to include here the National Association of Realtor’s Top 10 Project Paybacks:

1. Upscale fiber cement siding (86.7%)
2. Midrange wood deck (81.8%)
3. Midrange vinyl siding (80.7%)
4. Upscale foam-backed vinyl (80.4%)
5. Midrange minor kitchen remodel (79.5%)
6. Upscale vinyl window replacement (79.2%)
7. Midrange wood window replacement (77.7%)
8. Midrange vinyl window replacement (77.2%)
9. Upscale wood window replacement (76.5%
10. Midrange major kitchen remodel (76.0%)

Regional Data

They used to publish how those numbers changed by regions here in the United States. So, if for example, you lived here in Louisville, Kentucky, which I assume most of you do, you could find that a Midrange Bathroom Upgrade won’t get you as far (63.8%) as in other parts of the country (66%). I think they’ve found that the data follows cost of living levels so they aren’t extremely helpful.

Here’s a helpful chart for you. If you have any questions, please don’t hesitate to contact me.

Tags: Home Improvement, NAR

Are Replacement Windows a Wise Home Improvement?

Mar 9, 2009 Home Improvement

Perhaps no home improvement project has more perceived value than installing replacement windows into your home. Is this a well-deserved perception? Like most things the answer is, “It depends.”

The first thing to do is analyze your current situation. How many windows does your house have? How old are they? How many panes of glass do they have?

It may be the case that your current windows, while not at peak performance levels by today’s standards, are still performing well.

According to Consumer Reports:

Replacement windows can save you between 10 and 25 percent per year on heating and cooling if you have single-paned windows.

But because the cost of replacing all the windows in your home can run anywhere from $5,000 to $50,000 depending on the number, style and performance of the windows, it’ll often take many years just to recoup their cost.

If you do decide to buy new replacement windows, take into consideration what kind of windows homes in your neighborhood currently have. Vinyl windows are by far the most popular and generally cost a great deal less than clad wood windows. But if your home is located in a more upscale neighborhood, selecting the more attractive clad wood windows makes more sense.

Pella has a new line of fiberglass windows called Impervia that are designed to be more durable than vinyl windows but still be wholly maintenance free. These received a recommendation from Consumer Reports in their latest report.

If you have any questions about your home, feel free to contact me or your Realtor. I’ve also included some statistics from the National Association of Realtors 2008 Cost vs. Value Report below. You can see that replacement windows average between 76%-79% recoup cost nationally.

Tags: Consumer Reports, Home Improvement, Pella, replacement windows

Winterize Your Louisville Home

Dec 16, 2008 Home Improvement

I’m certainly no home improvement specialist myself, but I understand the value to prospective buyers of having a property in tip-top shape.

Heading into winter (heck… it’s been frosty here in Louisville for a month now!) here is some great advice that will help you winterize your home, save money and keep your #1 investment in the best possible shape.

Furnace Maintenance

Most of the time, homeowners should hire experts to perform maintenance updates or modfy their HVAC systems. But there are some tasks that any property owner can do. I’ll leave it to you to decide which of these you feel confident tackling.

1. Clean/Repair Air Ducts

It’s not a difficult concept, but cleaning out the air ducts requires the correct equipment. If you have access to a high-powered vacuum, maybe you’re up for the job. Along the way, if you notice any gaps or openings in the ducts, use the appropriate sealant on the gap and then wrap it from the outside.

2. Clean Furnace

This one can be a bit tricker. Make sure to refer to your owner’s manual on the proper ways to perform maintenance on your system. It will usually involve cleaning dust out of several locations, clean/replace any internal filters and lubricating specific moving parts.

3. Replace Main Air Filters

This should be a task you conduct on a regular basis but even still it’s very important. Replacing the air filter in your system regularly will not only improve your home’s air quality but will also extend the life of the overall HVAC system.

Winterize the Rest of Your Home

The following items all deserve some attention heading into winter and cold weather.

Exterior Doors and Windows

Check the caulking around all exterior doors and windows to make sure there is no way for your (expensive) hot air to escape to the outside. Depending on what kind of windows you currently have, it may also be a good idea to install storm windows to increase the amount of insulation in these areas.

Hot Water Heater

Make sure your hot water heater is properly insulated. Home improvement stores will have various options for you if yours isn’t currently wrapped. Heating water is one of the most energy intensive tasks your home undertakes.

Various Items

If you have exposed pipes in the basement, you might want to insulate them before they may become sealed off due to any projects that might hide them, i.e. finishing the basement. Fireplaces are also prime culprits for letting heated air escape your home. Whether your fireplace uses natural gas or is wood burning will determine how you insulate any air gaps you find.

These are just a few of the ways you can help winterize your Louisville home this year. I sincerely hope you have a great Holiday Season this year!

Tags: Home Improvement, winterize

Home Improvements That Are Eco-Friendly Too!

Nov 10, 2008 Home Improvement

I saw this article—Top 10 Ideas for Eco-Friendly Home Improvements—a while back and thought I’d share with you. If you can find that the environment-friendly solution also saves you money, then I get really excited!

Be sure to read the whole piece because I just pulled my favorite five ideas.

• Every year tons of water gets flushed in your bathrooms. So when you are considering remodeling your home then opt for dual flush in your bathroom. So depending upon the need you can use powerful mode or gentle mode. This step will reduce your yearly water consumption.
• When you want to renovate your flooring then you can go for cork floor. Besides being natural cork flooring is comfortable to walk on and durable. Cork floorings are available in a wide range of designs and colors.
• Instead of replacing entire flooring you can reuse or refinish the existing material. This is easily possible in case you have other type of flooring beneath your wood flooring.
• In case you are opting for carpet tiles then carpet padding is not compulsory. It is better to avoid carpet padding. Avoid padding will reduce the additional material, labor and chemicals used to install. Carpet padding also increases the need to keep your carpet clean and it becomes hard to clean without using harsh chemicals.
• In case you are not going for big renovation then you can simply switch to eco-friendly furnishing. The best way is to purchase used furniture this step will reduce the demand on forest and materials to be made from scratch. Used furniture besides being eco-friendly is also a cost efficient move.

Tags: eco-friendly, Home Improvement