Boston Area Home Improvements: Mistakes Seniors Make

Boston area home improvements are often planned and made by senior homeowners and many of them make mistakes by not considering their future needs. As homeowners get older they should carefully consider remodeling and renovating their homes. Mistakes may lead to financial challenges as the homeowners reach retirement age or beyond.

Senior homeowners thinking about Boston area home improvements should be careful to avoid these common mistakes.

Boston Area Home Improvements: The Four “No-No’s”

1. Renovating, Remodeling and Relocating.

Some homeowners in their late 40s and 50s buy or build huge houses and then take on extensive remodeling projects in the critical years prior to retirement. When they decide to retire they often elect to downsize, move to a different neighborhood, sell their home for a condo requiring little or no maintenance of yard work, or moving out of town to a warmer climate or to be closer to their children and grandchildren.

If they’ve spent a large amount of money on Boston area home improvements, they often discover they are unable to sell their home for an amount sufficient to recoup their investment. The lesson learned the hard way? Don’t spend money on remodels or renovations without knowing what your future plans for the house may be. If you plan to stay in the home for life, home improvements can be a good idea. If you plan to move within a few years, put your remodeling plans on the back burner and save your money for your new home.

2. Neglecting Future Needs.

We all think we’ll be in relatively good health for a long time. However, statistics show that seniors run a higher risk of having a condition that may limit their physical mobility and comfort. Neglecting the possibility of a future need based on a health problem or shortcoming can end up costing senior homeowners a considerable amount of money. Industry experts encourage seniors to consider features such as first floor bedrooms and full bathrooms, no-step home entranceways and no steps between rooms in the home. Furthermore, Boston area home improvements, when planned, should include open floor plans and wider spaces such as hallways or doorways wide enough to accommodate a wheelchair or a walker. Other considerations may include multilevel kitchen countertops that are wheelchair accessible, appliances that are easy to reach and laundry rooms near the master bedroom, enabling seniors convenient access to washing clothes and linens.

3. Borrowing Money to Remodel.

As with any Boston area home improvements, it’s always best to obtain cost estimates to ensure the project is affordable and worthwhile. For senior homeowners the financial overview is critically important. Seniors approaching retirement age or those living on a fixed income should think long and hard before they borrow money to pay for a remodel. Adding another monthly obligation to an already-strained budget should be avoided.

4. Paying for Renovations From Retirement Funds.

Some seniors assume that their retirement nest egg, dividends and investment income will be more than sufficient in their golden years. For some, it may be. For others, it won’t be. So paying for Boston area home improvements from a retirement account may negatively impact available liquidity for the remainder of your — or your surviving spouse’s — life.

Financial experts recommend only paying for home renovations if you have more than enough assets and cash to comfortably do so while planning for potential medical bills or other emergencies. Remember, seniors either out of the workforce or soon to be retired have limited options of earning additional money to replace cash that might be spent on renovations.

Want more tips and articles on Boston area home improvements? You’ll find them to your right under Boston Home Improvements just below Boston Real Estate Categories.  And remember to find Buyer’s Choice Realty on Facebook, and we post daily to Twitter.

Boston Area Home Improvements May Hurt Home Value

When you’re considering Boston area home improvements it’s always a good idea to compare the cost of the renovations to what they may add to the resale value. Statistics show that homeowners rarely enjoy a full, dollar-for-dollar monetary appreciation of the cost of most home improvements. Some improvements may assist in selling your home when the time comes, both with a shorter time on the market and at a higher price.

Surprisingly to many homeowners, not all home improvements add value.

Some Boston Area Home Improvements May Actually REDUCE Value

Not all Boston area home improvements add value to a home

Many homeowners mistakenly assume that anything added to their homes will improve its appeal, and therefore its selling price. The sad truth is that some so-called “improvements” add little, if any, real value and in reality make your home less desirable to prospective purchasers.

Depending on your home’s location — especially if it’s in a sought-after subdivision or a popular part of the community — some buyers may be less concerned with things about your home that they can easily and affordably change. But if the changes seem extensive and expensive most buyers will just keep looking for a home more to their liking. That equates, of course, to a longer period of time your home may remain on the market.

Let’s look at five Boston area home improvements that may hurt your home’s value:

1 – Overdoing colors. Most real estate agents will tell you that homes with interior walls featuring neutral colors like whites, off-whites, or tans are more appealing to a broader market of homebuyers. No matter what your favorite color may be when you decorated your house, repaint it when you get ready to sell.

2 – Eliminating a bedroom, half-bath, or powder room. At one time — especially with older homes — eliminating smaller rooms may have made sense because it helped the “chopped-up” appearance. Despite the fact that most homeowners today are attracted to larger rooms and more airy, open spaces doing away with a half-bath or a powder room could be a mistake. Furthermore, it’s probably never a good idea to reduce the number of bedrooms in your home, even if it’s to make a larger master suite.

3 – Don’t close in that garage! For years, homeowners have converted garages into living spaces — and many homes have suffered as a result. Today’s home buyers like garages, especially if they live in extreme cold, hot and rainy climates. So before you add an enclosed garage to your list of Boston area home improvements, step back and reconsider.

4 – Don’t “over-personalize” your home. Our homes are, indeed, our castles. Yet when you’re ready to sell your castle, remember that everybody’s tastes are different. Just like the pink or yellow paint on the walls, not everybody will appreciate the logo of your favorite sports team carved into the fireplace mantle in your man cave! Think about what will be appealing to the largest group of potential buyers before you make those Boston area home improvements.

5 – A swimming pool isn’t all it’s cracked up to be. In certain parts of the country, like Florida, Arizona, or Hawaii, pools are great — even expected in some neighborhoods. But not everybody is enamored with the idea of having a pool in the backyard. Pools are often seen as negatives because of the maintenance costs and potential liability involved.

Find more news pertaining to Boston area home improvements under our Boston Home Improvement section of articles to your right just below our Boston Real Estate Categories.

We also post tips on Facebook and Twitter. Follow us there for many other real estate related news articles and tips as well.

Updating the Value of Your Boston Area Home

Whether you are looking to sell your Boston area home or plan to stay in it for years to come, most homeowners have a running list of projects in mind with the hopes of increasing the appeal, comfort, and value of their Boston area home. Regardless of whether you live in a charming old century home or a sleek modern one, there are plenty of ways to improve the value of your Boston area home with a wide range of cost and knowledge required to get the job done.

6 Ways for Improving Your Boston Area Home Value

Improve the value of your Boston area home with some or all of these tips

Remodel the Kitchen

Most real estate agents agree that a kitchen remodel is one of the best ways to increase the value of your Boston area home. Remodeling your kitchen may seem like an overwhelming task, but if your budget is limited, start small and work in segments. Consider starting by replacing appliances and adding a new colorful back splash. These are things that can be done with little or no experience in the home improvement business.

Freshen Up the Bathroom

No one likes an old dingy bathroom. If you don’t feel the need to, or don’t have the funds to do a full remodel, a fresh coat of paint and new rugs and shower curtain can really put a new face on an old bathroom. Take some time to organize and de-clutter. You may want to add some new shelves and mirrors to open up the space.

New Flooring

Hardwood flooring is by far the most popular choice among current home owners. It’s easier to maintain and more durable. If cost is a prohibiting factor, laminate flooring or engineered wood looks nice and costs less than real wood flooring.

Replace/Update Windows

New windows will save you money on energy costs and increase the beauty and updated look of your Boston area home from the inside out. Find a contractor or a window installation company you trust to help you choose the right windows. Whether you are going for a more classic wooden window look or a sleek modern style, new windows can help you achieve your desired look, but it’s probably not a job for the do-it-yourselfer.

Paint

A fresh coat of paint for the interior and exterior of your Boston area home is the cheapest way to increase the value of your home. If you are planning to sell, stick with a somewhat neutral color scheme.

Keep Up With Yard Work

Last, but certainly not least, remember that a well groomed yard has significantly more curb appeal than one that is unkept. Simple things like keeping your lawn mowed and flower beds well weeded will greatly increase the appeal of your home. Add some flowers or plants and fresh mulch for a bit of extra color.

We have more tips for home improvements under our Boston Home Improvements section just below our Boston Real Estate Categories in the column to your right.

Remember, we also post daily on our Facebook Page, and over at Twitter. We’d love you to check us out there too.

Budgeting for Boston Area Home Improvements

With May upon us already, here’s a reminder that May is Home Improvement Month. Getting those Boston area home improvements done and saving some serious cash at the same time is on everyone’s wish list. Follow these tips for hammering out a better deal on your Boston area home improvements…

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We have more tips for Boston area home improvements in our Boston Home Improvements section of articles under Boston Real Estate Categories to your right.
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And don’t forget, we also post tips daily on Twitter and Facebook, sometimes pertaining directly to Boston area home improvements. Find us there as well.
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Buying a Boston Area Home: Maximizing Your Money

When it comes to buying a Boston area home, there are things buyers need to be aware of. But if you’re on the selling end, there are some Boston home improvements you need to think about as well.
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A new Consumer Reports survey details many of the do’s and don’ts for those buying a Boston area home, as well as those selling a Boston area home.

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We have more tips on buying a Boston area home, as well as tips on selling a Boston area home, in the two sections of Boston Home Buying Tips and Boston Home Selling Tips under the Boston Real Estate Categories to your right.
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And don’t forget, we also post tips on selling and buying a Boston area home daily on Twitter and Facebook. Find us there as well.
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