good to know for growing older...
from caring.com
When you picture the place where you’ll live out your golden years, what do you see? For many people, it’s a family home with plenty of relatives and friends living close by. For others, it may be a far-flung destination they’ve long dreamed of retiring in.
Whether or not you plan to stay in your current state of residence or relocate, there are some important considerations to take into account.
While proximity of family and friends is the top factor when deciding where to live in your later years, things such as access to quality healthcare, the cost of senior care and support for seniors in a given area are also important to consider.
These types of considerations are especially key when deciding where to live in your late 70s, 80s, 90s, and beyond, as more and more people now do, says Sara Zeff Geber, Ph. D, an author and retirement planning expert.
“At that age, we really need to start thinking about someplace that’s stable, someplace that’s safe and someplace that we can afford,” she says. “Those things don’t always add up to the Sun Belt.”
Caring.com’s own research found that the states that offer the best mix of quality healthcare, long-term care, affordability and selection of senior care and overall quality of life aren’t always found in the typical retirement destinations like Florida or Arizona. In fact, the states that offer ideal conditions for those 55 and older will probably surprise you.
We assembled these ratings by incorporating data on quality of life in a given area for residents over 55, quality of healthcare, long-term care, support for seniors and family caregivers, affordability of senior care and more than 100,000 ratings of senior care providers in each state. Sources included Genworth’s 2015 Cost of Care Survey, the Gallup-Healthways Well-Being Index, and the Long-term Scorecard, a joint effort by AARP, The Commonwealth Fund and The SCAN Foundation.
1. South Dakota
2. Iowa
3. Minnesota
4. Alaska
5. Oregon
6. Colorado
7. Hawaii
8. South Carolina
9. Nebraska
10. Wisconsin
Wednesday, May 18, 2016
5 Ways a Hot Market Hurts Sellers
good info to consider...
from trulia.com
A hot real estate market can seem like the answer to your prayers if you’re ready to sell. And homes are selling fast in 2015 in many parts of the country, says Ralph McLaughlin, Trulia’s Housing Economist.
A limited inventory is mainly responsible for creating the current seller’s market. Much of California remains a hot market, for example, as does Denver, CO, and parts of Florida. “We define a ‘hot market’ as one where most homes sell faster than two months,” says McLaughlin.
But houses aren’t going like hotcakes everywhere. Just ask home sellers in Knoxville, TN; Columbia, SC; and Syracuse, Long Island, and Albany, NY. Most houses tend to sit longer than two months in those areas.
If you own a home in a seller’s market, great! But don’t jump for joy just yet. A seller’s market has some downsides that you might not have considered. Here are five scenarios in which a seller’s market can actually be problematic for sellers — and how to help ease the burden.
1. Your house sells lickety-split But you’re still hunting for your next house. Unless you plan to become an RV enthusiast and roam the country, you’ll probably need to buy another house, which turns the tables — making you a buyer in a seller’s market. Some savvy sellers find the house they want before they list their current house for sale. But in a seller’s market, the dream house can sell before the current house does. “I always advise my sellers-turned-buyers to have a backup plan, such as temporary housing,” says Christine Lutz, a Chicago real estate broker. “It’s better to move twice than to feel rushed into a purchase.” Another option is to consider a lease-back, says Gary Wheeler, a California real estate agent with Willis Allen. Your buyers will need to agree to this plan, but if they do, you can rent your house back from the new owners during the lease-back period while you continue to look for another home.
2. The appraisal falls short Your hot market is so blazing hot that people are offering more than asking price. Ka-ching? Perhaps. But brace yourself: It could be more like Debbie Downer’s wah-wah. If the house appraises low, “the buyer may walk away,” says Kelly Hager, a Missouri real estate agent. In that case, you can try renegotiating the deal or pay for a second appraisal.
3. Bad offers all around During a buying frenzy, some buyers make promises they can’t keep. “By not vetting offers, sellers may sit in a contract just to have it terminate three weeks later,” says Sarah Bowles, a Denver real estate agent. Then, when buyers see that your house has been sitting for several weeks in a hot market, they wonder what’s wrong with the house. To avoid this problem, skip the offers that don’t come with a mortgage preapproval.
4. Trying to beat the 1031 clock Section 1031 of the U.S. tax code lets you sell one investment property and buy another investment property without paying tax on the sale. The catch? The clock is ticking. You need to identify a property to buy within 45 days. In a seller’s market, “Sellers can find themselves in tough competition to buy a replacement property in the time needed to qualify the exchange to defer taxes,” says Crystal Stranger, author of The Small Business Tax Guide. But relax a little — you have 180 days to actually close.
5. Your big ego Just because you’re selling in a seller’s market doesn’t necessarily mean you’ll automatically get offers for more than your asking price. “The biggest problem I see with sellers in a seller’s market is being overly optimistic about price,” says Bruce Ailion, an Atlanta real estate agent. When a reasonable offer from a strong buyer comes in, the sellers who expect extravagant offers often turn it down. What happens then? “The property remains on the market, becomes stale, and ultimately sells for less than the first strong offer,” says Ailion. If you plan to sell soon, consider these insights from Trulia Housing Economist McLaughlin: Inexpensive homes sell fastest. The market picks up in the spring and dies down between August and October, extending through the winter. (The exception is vacation homes in hot climates, such as Arizona and Florida, where the market stays strong during winter.) FHA loans, although expensive, allow people to buy a home with a down payment of as little as 3.5%.
from trulia.com
A hot real estate market can seem like the answer to your prayers if you’re ready to sell. And homes are selling fast in 2015 in many parts of the country, says Ralph McLaughlin, Trulia’s Housing Economist.
A limited inventory is mainly responsible for creating the current seller’s market. Much of California remains a hot market, for example, as does Denver, CO, and parts of Florida. “We define a ‘hot market’ as one where most homes sell faster than two months,” says McLaughlin.
But houses aren’t going like hotcakes everywhere. Just ask home sellers in Knoxville, TN; Columbia, SC; and Syracuse, Long Island, and Albany, NY. Most houses tend to sit longer than two months in those areas.
If you own a home in a seller’s market, great! But don’t jump for joy just yet. A seller’s market has some downsides that you might not have considered. Here are five scenarios in which a seller’s market can actually be problematic for sellers — and how to help ease the burden.
1. Your house sells lickety-split But you’re still hunting for your next house. Unless you plan to become an RV enthusiast and roam the country, you’ll probably need to buy another house, which turns the tables — making you a buyer in a seller’s market. Some savvy sellers find the house they want before they list their current house for sale. But in a seller’s market, the dream house can sell before the current house does. “I always advise my sellers-turned-buyers to have a backup plan, such as temporary housing,” says Christine Lutz, a Chicago real estate broker. “It’s better to move twice than to feel rushed into a purchase.” Another option is to consider a lease-back, says Gary Wheeler, a California real estate agent with Willis Allen. Your buyers will need to agree to this plan, but if they do, you can rent your house back from the new owners during the lease-back period while you continue to look for another home.
2. The appraisal falls short Your hot market is so blazing hot that people are offering more than asking price. Ka-ching? Perhaps. But brace yourself: It could be more like Debbie Downer’s wah-wah. If the house appraises low, “the buyer may walk away,” says Kelly Hager, a Missouri real estate agent. In that case, you can try renegotiating the deal or pay for a second appraisal.
3. Bad offers all around During a buying frenzy, some buyers make promises they can’t keep. “By not vetting offers, sellers may sit in a contract just to have it terminate three weeks later,” says Sarah Bowles, a Denver real estate agent. Then, when buyers see that your house has been sitting for several weeks in a hot market, they wonder what’s wrong with the house. To avoid this problem, skip the offers that don’t come with a mortgage preapproval.
4. Trying to beat the 1031 clock Section 1031 of the U.S. tax code lets you sell one investment property and buy another investment property without paying tax on the sale. The catch? The clock is ticking. You need to identify a property to buy within 45 days. In a seller’s market, “Sellers can find themselves in tough competition to buy a replacement property in the time needed to qualify the exchange to defer taxes,” says Crystal Stranger, author of The Small Business Tax Guide. But relax a little — you have 180 days to actually close.
5. Your big ego Just because you’re selling in a seller’s market doesn’t necessarily mean you’ll automatically get offers for more than your asking price. “The biggest problem I see with sellers in a seller’s market is being overly optimistic about price,” says Bruce Ailion, an Atlanta real estate agent. When a reasonable offer from a strong buyer comes in, the sellers who expect extravagant offers often turn it down. What happens then? “The property remains on the market, becomes stale, and ultimately sells for less than the first strong offer,” says Ailion. If you plan to sell soon, consider these insights from Trulia Housing Economist McLaughlin: Inexpensive homes sell fastest. The market picks up in the spring and dies down between August and October, extending through the winter. (The exception is vacation homes in hot climates, such as Arizona and Florida, where the market stays strong during winter.) FHA loans, although expensive, allow people to buy a home with a down payment of as little as 3.5%.
Top 10 Home Addition Ideas & Their Costs: In-ground Swimming Pools, Dormers, Kitchen Extensions & More!
always good information for home construction ideas...
from 24hplans.com
Are you in the process of planning a home addition or major remodeling project for your home? If so, it’s imperative to know ahead of time, just how much a new addition or remodeling upgrade will cost and what value/property appreciation it will contribute to your property. Here is a list of the top 10 ideas to make your home feel brand new and either add space or amenities that you and your family are sure to love!
1. Enjoy the Outdoors with a Three-Season Room
A screened-in porch or three-season room is another addition the can enhance the use of your home. Imagine entertaining your friends in the great outdoors without fighting mosquitoes and other pests. This addition is another relatively inexpensive way to increase your living space at a reduced cost. You don’t have to worry about insulation or even drywall. Frame in windows with screens instead of glass to allow in fresh air.
You can use indoor/outdoor carpeting and you will need to add electricity, but this is a relatively inexpensive project. A bonus for choosing this addition is that you can decide to finish the room at a later date and turn into a four-season room.
This is a project where price varies widely, depending on the size and design. For a basic room, costs start at $5000. If you want to go all out, you can expect to pay as much as $60,000 or $75,000, especially if you include windows instead of screen and make your three-season room one for all-year. The one caveat with a fully-blown-out all-year sun-room or a four-seasons room is that you will only be able to recoup about 48 percent of your investment should you decided to sell your home. Thus, a sun room addition only makes sense if you don’t plan on selling your home anytime soon.
2. Convert Your Garage into a Master Suite or the Ultimate Guest Suite
If you live in an area with moderate weather, you may find a better use for your attached garage. Even if you get cold temperatures or snow, you may decide to convert your garage and build a detached one later. Converting a garage into living space is easy and affordable for many homeowners.
You have a foundation and four walls and even electricity already in place. You just have to add insulation, drywall, and a floor. You’ll probably need to increase the number of electrical outlets and extend central air conditioning and plumbing for the new space. However, the amount of square footage for an average garage gives you enough room to create a luxury master suite, including bathroom. Split-bedroom homes are popular in many areas with the master suite at the end opposite of other bedrooms for privacy.
Another option is to use this space for a guest suite or mother-in-law apartment if you don’t have a basement. The average two-car garage is about 600 square feet, which gives you a lot of room to work with.
Pricing for a garage conversion can range from around $7500 on up to $10,000 or more, depending on what you want done. Removing the garage doors and installing a new wall or French doors to make the space look like a part of the home will increase the costs, but it will also enhance its value.
3. Install an In-ground Swimming Pool or Spool
Be the home to host pool parties with your own in-ground swimming pool. You can select the size that fits your area and the shape to suit your style. With numerous options available, you can select the right depth and design of your new pool and install additional features such as a hot-tub or an outdoor shower to enhance your space.
When considering the cost of this addition, you have to plan for the ongoing maintenance as well as the initial price of installation. Regular maintenance is necessary to keep your pool operational, and you’ll need to think about closing the pool for the season and opening procedures for the next summer. If you don’t want to have to do the work yourself, you’ll need to compare costs for this service. Just for the installation, expect to pay between $25,000 and $50,000 depending on the size and design of the pool.
One of the ways to reduce some of the initial expenses, as well as save some highly-valuable time during the planning and permitting phase is to get an online site plan drafted in order to obtain a permit from your city-hall. In most cases, you aren’t required to have a certified plan, meaning that you do not have to hire a land surveyor — something that could cost you between $1000 to $1500 for most projects. In fact, a virtual team of experienced architects and drafters can take your parcel information and create a customized site plan with photo-realistic renders for a fraction of the cost of a certified site plan.
4. Create the Ultimate Outdoor Living Space
If you like to spend time outside, you might as well turn it into more living space. Go beyond a few chairs and a table to create a luxury area you enjoy spending time in. Many outdoor decks and patios have fully-functional outdoor kitchens with an oven and refrigerator along with a grill.
Modern outdoor living spaces come in all styles and with many kinds of amenities, from high-definition televisions to surround-sound audio systems to elegant waterfalls. Price depends on how elaborate you want to go for this project. Costs can range from less than $1000 to over $7000.
5. Adding a Second Floor
When you don’t have room to expand out, you might want to consider moving up. A second floor addition could be the right move if you live on a small lot and require additional living space. A second story is a major expense, but it can add a lot of square footage to your home. Some people may choose to limit the addition to part of the home or just over the garage.
A house must be structurally sound enough to hold an entire extra story. This is why it’s critical to obtain a building permit from your city-hall and have your local building inspector approve the addition. It’s also important to consider your neighborhood during the early planning phase with your architect/designer or builder. If you build a second story that puts your home out of character from the rest of the homes in the neighborhood, you won’t get the money back from your addition when you decide to sell your property.
Prices for this project start at $100 per square foot and can go as high as $500 per square foot for more complex designs. You’ll also have to make sure it meets local codes and regulations for height before you begin your project.
6. Installing PV Solar Panels
Another big project with a major payoff is installing photovoltaic solar panels for your home. You can reduce your monthly utility cost and know you’re doing something good for the environment. In some cases, people can operate almost completely with the help of solar power. Otherwise, it complements the electrical power in the home.
The initial cost can be a great deterrent for some people, with prices upwards of $30,000 for materials and installation. For many homes, part of that cost can be offset by a utility company. They may be willing to pay around half of the price, which makes your out-of-pocket expenses lower.
7. A Chef’s Kitchen
If you love to cook or entertain, a big open kitchen is almost a necessity. Your home may come with an ordinary or even tiny kitchen, but that doesn’t mean you’re stuck with it. A kitchen extension can give you the place of your dreams.
Extending the kitchen out by just three feet can give you a lot of extra interior space. A new exterior wall can be built along the outside wall of the kitchen. For example, say your kitchen is 11 feet long against the exterior wall. By moving it out just three feet, you add an additional 33 square feet of space, enough to add cabinets or turn your room into an eat-in kitchen.
This is one of the more affordable ways of adding space in your home. Price will vary based on the exact design of your home. For a larger project that extends 20 feet along one wall of your home and adds 10 feet in width, you can expect to pay up to $30,000. This is one project you can build off of your budget. Once you know how much you have to work with, you can decide how far the extension will go.
8. Build a Dormer for More Space
Add a dormer onto the first or second story of your home to bring in more natural light and add more space. This is a creative solution that enhances the curb appeal of your home while being cost-effective. While many people associate dormers with Cape Cod homes, they can also fit in with ranch-style houses or other architectural designs.
Don’t expect this process to be cheap, though. Working with the existing structure to ensure it is protected while adding some extra space can add to the expense. However, this can be an efficient way to increase the square footage if you’re limited by zoning regulations. Expect to pay as much as if you were adding space on the ground floor at $50,000 – 100,000. Small dormers of 150 feet can cost around $20,000. The costs include new framework, flooring and walls, doors and windows, and electricity.
9. Add a Bathroom
For anyone living in an older home, adding a bathroom can be one of the best investment choices they make. Turning a 3-bedroom 1-bath home into a 3-bedroom 2-bath home will greatly increase the salability of the property as well as its value. Some homeowners aren’t as worried about adding a bathroom as they are about expanding a current one. That cost will be about half of the expense of an addition.
According to Remodeling Magazine, the average cost of a bathroom addition is about $39,000, while the renovation is $17,000. In an addition, you will build on to the existing house a room that can range from 10 feet by 10 feet to 17 feet by 10 feet or even larger. Most people build the new bathroom off the master bedroom to create a master suite. However, it can be built off any part of the house that makes sense to have a bathroom.
The cost of an addition includes framework and foundation, as well as all of the interior amenities for the bathroom. You would need to add in a shower, toilet, sink and possibly a tub, along with flooring, electrical and plumbing.
If you just want to extend a current bathroom and make it larger, you wouldn’t have as much expense. You’d just have to figure out which other area of the home to reduce. Many people choose to remove a closet to enlarge a bathroom while others completely reconfigure the house by taking out an extra bedroom or reducing the size of the family room or dining room, depending on the location of the existing bathroom.
10. Getting a Bonus with a Bonus Room
If you have an unfinished basement, you can turn it into a fun space. Make it a family room, game room or a media room if you have kids. A man cave is a fabulous idea for couples or a guest suite if you don’t have a lot of extra space for out-of-town visitors. You can come up with dozens of uses for an extra room if you have the bones for one.
The benefit you get with having an unfinished space to convert is you don’t have to lay the foundation. Your expenses will be lower than if you were starting from scratch. However, you will need to get a permit to finish the existing space even if you have the outside walls already in place.
Prices for this project vary widely, depending on the existing space and how you want to convert it. You’ll need to add flooring, drywall and insulation, as well as expand electricity, and heating and air conditioning into the room. If you add in a bathroom, your plumbing costs will increase the overall price. Expect to pay $5000 at minimum and as much as $20,000. If you go with elaborate designs and amenities, the price could go even higher.
These ten major additions can all add value to your home if you plan to resell in the future or enhance your current living space. Make sure you get accurate estimates and know all that is required before you begin any large-scale remodeling project.
from 24hplans.com
Are you in the process of planning a home addition or major remodeling project for your home? If so, it’s imperative to know ahead of time, just how much a new addition or remodeling upgrade will cost and what value/property appreciation it will contribute to your property. Here is a list of the top 10 ideas to make your home feel brand new and either add space or amenities that you and your family are sure to love!
1. Enjoy the Outdoors with a Three-Season Room
A screened-in porch or three-season room is another addition the can enhance the use of your home. Imagine entertaining your friends in the great outdoors without fighting mosquitoes and other pests. This addition is another relatively inexpensive way to increase your living space at a reduced cost. You don’t have to worry about insulation or even drywall. Frame in windows with screens instead of glass to allow in fresh air.
You can use indoor/outdoor carpeting and you will need to add electricity, but this is a relatively inexpensive project. A bonus for choosing this addition is that you can decide to finish the room at a later date and turn into a four-season room.
This is a project where price varies widely, depending on the size and design. For a basic room, costs start at $5000. If you want to go all out, you can expect to pay as much as $60,000 or $75,000, especially if you include windows instead of screen and make your three-season room one for all-year. The one caveat with a fully-blown-out all-year sun-room or a four-seasons room is that you will only be able to recoup about 48 percent of your investment should you decided to sell your home. Thus, a sun room addition only makes sense if you don’t plan on selling your home anytime soon.
2. Convert Your Garage into a Master Suite or the Ultimate Guest Suite
If you live in an area with moderate weather, you may find a better use for your attached garage. Even if you get cold temperatures or snow, you may decide to convert your garage and build a detached one later. Converting a garage into living space is easy and affordable for many homeowners.
You have a foundation and four walls and even electricity already in place. You just have to add insulation, drywall, and a floor. You’ll probably need to increase the number of electrical outlets and extend central air conditioning and plumbing for the new space. However, the amount of square footage for an average garage gives you enough room to create a luxury master suite, including bathroom. Split-bedroom homes are popular in many areas with the master suite at the end opposite of other bedrooms for privacy.
Another option is to use this space for a guest suite or mother-in-law apartment if you don’t have a basement. The average two-car garage is about 600 square feet, which gives you a lot of room to work with.
Pricing for a garage conversion can range from around $7500 on up to $10,000 or more, depending on what you want done. Removing the garage doors and installing a new wall or French doors to make the space look like a part of the home will increase the costs, but it will also enhance its value.
3. Install an In-ground Swimming Pool or Spool
Be the home to host pool parties with your own in-ground swimming pool. You can select the size that fits your area and the shape to suit your style. With numerous options available, you can select the right depth and design of your new pool and install additional features such as a hot-tub or an outdoor shower to enhance your space.
When considering the cost of this addition, you have to plan for the ongoing maintenance as well as the initial price of installation. Regular maintenance is necessary to keep your pool operational, and you’ll need to think about closing the pool for the season and opening procedures for the next summer. If you don’t want to have to do the work yourself, you’ll need to compare costs for this service. Just for the installation, expect to pay between $25,000 and $50,000 depending on the size and design of the pool.
One of the ways to reduce some of the initial expenses, as well as save some highly-valuable time during the planning and permitting phase is to get an online site plan drafted in order to obtain a permit from your city-hall. In most cases, you aren’t required to have a certified plan, meaning that you do not have to hire a land surveyor — something that could cost you between $1000 to $1500 for most projects. In fact, a virtual team of experienced architects and drafters can take your parcel information and create a customized site plan with photo-realistic renders for a fraction of the cost of a certified site plan.
4. Create the Ultimate Outdoor Living Space
If you like to spend time outside, you might as well turn it into more living space. Go beyond a few chairs and a table to create a luxury area you enjoy spending time in. Many outdoor decks and patios have fully-functional outdoor kitchens with an oven and refrigerator along with a grill.
Modern outdoor living spaces come in all styles and with many kinds of amenities, from high-definition televisions to surround-sound audio systems to elegant waterfalls. Price depends on how elaborate you want to go for this project. Costs can range from less than $1000 to over $7000.
5. Adding a Second Floor
When you don’t have room to expand out, you might want to consider moving up. A second floor addition could be the right move if you live on a small lot and require additional living space. A second story is a major expense, but it can add a lot of square footage to your home. Some people may choose to limit the addition to part of the home or just over the garage.
A house must be structurally sound enough to hold an entire extra story. This is why it’s critical to obtain a building permit from your city-hall and have your local building inspector approve the addition. It’s also important to consider your neighborhood during the early planning phase with your architect/designer or builder. If you build a second story that puts your home out of character from the rest of the homes in the neighborhood, you won’t get the money back from your addition when you decide to sell your property.
Prices for this project start at $100 per square foot and can go as high as $500 per square foot for more complex designs. You’ll also have to make sure it meets local codes and regulations for height before you begin your project.
6. Installing PV Solar Panels
Another big project with a major payoff is installing photovoltaic solar panels for your home. You can reduce your monthly utility cost and know you’re doing something good for the environment. In some cases, people can operate almost completely with the help of solar power. Otherwise, it complements the electrical power in the home.
The initial cost can be a great deterrent for some people, with prices upwards of $30,000 for materials and installation. For many homes, part of that cost can be offset by a utility company. They may be willing to pay around half of the price, which makes your out-of-pocket expenses lower.
7. A Chef’s Kitchen
If you love to cook or entertain, a big open kitchen is almost a necessity. Your home may come with an ordinary or even tiny kitchen, but that doesn’t mean you’re stuck with it. A kitchen extension can give you the place of your dreams.
Extending the kitchen out by just three feet can give you a lot of extra interior space. A new exterior wall can be built along the outside wall of the kitchen. For example, say your kitchen is 11 feet long against the exterior wall. By moving it out just three feet, you add an additional 33 square feet of space, enough to add cabinets or turn your room into an eat-in kitchen.
This is one of the more affordable ways of adding space in your home. Price will vary based on the exact design of your home. For a larger project that extends 20 feet along one wall of your home and adds 10 feet in width, you can expect to pay up to $30,000. This is one project you can build off of your budget. Once you know how much you have to work with, you can decide how far the extension will go.
8. Build a Dormer for More Space
Add a dormer onto the first or second story of your home to bring in more natural light and add more space. This is a creative solution that enhances the curb appeal of your home while being cost-effective. While many people associate dormers with Cape Cod homes, they can also fit in with ranch-style houses or other architectural designs.
Don’t expect this process to be cheap, though. Working with the existing structure to ensure it is protected while adding some extra space can add to the expense. However, this can be an efficient way to increase the square footage if you’re limited by zoning regulations. Expect to pay as much as if you were adding space on the ground floor at $50,000 – 100,000. Small dormers of 150 feet can cost around $20,000. The costs include new framework, flooring and walls, doors and windows, and electricity.
9. Add a Bathroom
For anyone living in an older home, adding a bathroom can be one of the best investment choices they make. Turning a 3-bedroom 1-bath home into a 3-bedroom 2-bath home will greatly increase the salability of the property as well as its value. Some homeowners aren’t as worried about adding a bathroom as they are about expanding a current one. That cost will be about half of the expense of an addition.
According to Remodeling Magazine, the average cost of a bathroom addition is about $39,000, while the renovation is $17,000. In an addition, you will build on to the existing house a room that can range from 10 feet by 10 feet to 17 feet by 10 feet or even larger. Most people build the new bathroom off the master bedroom to create a master suite. However, it can be built off any part of the house that makes sense to have a bathroom.
The cost of an addition includes framework and foundation, as well as all of the interior amenities for the bathroom. You would need to add in a shower, toilet, sink and possibly a tub, along with flooring, electrical and plumbing.
If you just want to extend a current bathroom and make it larger, you wouldn’t have as much expense. You’d just have to figure out which other area of the home to reduce. Many people choose to remove a closet to enlarge a bathroom while others completely reconfigure the house by taking out an extra bedroom or reducing the size of the family room or dining room, depending on the location of the existing bathroom.
10. Getting a Bonus with a Bonus Room
If you have an unfinished basement, you can turn it into a fun space. Make it a family room, game room or a media room if you have kids. A man cave is a fabulous idea for couples or a guest suite if you don’t have a lot of extra space for out-of-town visitors. You can come up with dozens of uses for an extra room if you have the bones for one.
The benefit you get with having an unfinished space to convert is you don’t have to lay the foundation. Your expenses will be lower than if you were starting from scratch. However, you will need to get a permit to finish the existing space even if you have the outside walls already in place.
Prices for this project vary widely, depending on the existing space and how you want to convert it. You’ll need to add flooring, drywall and insulation, as well as expand electricity, and heating and air conditioning into the room. If you add in a bathroom, your plumbing costs will increase the overall price. Expect to pay $5000 at minimum and as much as $20,000. If you go with elaborate designs and amenities, the price could go even higher.
These ten major additions can all add value to your home if you plan to resell in the future or enhance your current living space. Make sure you get accurate estimates and know all that is required before you begin any large-scale remodeling project.
Couple Spends 20 Years Building A Self-Sustaining, Floating Island To Live Off The Grid
one house route to go...
from boredpanda.com
This floating fortress of sustainable living floating on the coast of Vancouver Island British Columbia goes to show just how wonderful a sustainable life off the grid can be. Wayne Adams, 66, and Catherine King, 59, built this floating home together in 1992, and have been growing and fishing for their own food ever since.
The home, which they’ve named “Freedom Cove,” consists of 12 floating platforms that include a dance floor, an art gallery, a guest lighthouse, a studio for Adams and King, and 5 greenhouses. The settlement has half an acre of land for growing edible crops. The couple gets water from a nearby waterfall during the summer and from rainwater during the winter. The settlement had been powered by an array of 14 solar panels, but recently switched to a generator after these broke down.
When they aren’t working on their sustainable lifestyle, they still manage to keep busy; during the summer, visitors come from nearby Tofino to experience the family’s sustainable lifestyle. Adams is also a carver, while King is a painter, dancer, writer and musician.
from boredpanda.com
This floating fortress of sustainable living floating on the coast of Vancouver Island British Columbia goes to show just how wonderful a sustainable life off the grid can be. Wayne Adams, 66, and Catherine King, 59, built this floating home together in 1992, and have been growing and fishing for their own food ever since.
The home, which they’ve named “Freedom Cove,” consists of 12 floating platforms that include a dance floor, an art gallery, a guest lighthouse, a studio for Adams and King, and 5 greenhouses. The settlement has half an acre of land for growing edible crops. The couple gets water from a nearby waterfall during the summer and from rainwater during the winter. The settlement had been powered by an array of 14 solar panels, but recently switched to a generator after these broke down.
When they aren’t working on their sustainable lifestyle, they still manage to keep busy; during the summer, visitors come from nearby Tofino to experience the family’s sustainable lifestyle. Adams is also a carver, while King is a painter, dancer, writer and musician.
Pros And Cons Of Buying During Real Estate’s Hottest Season
food for thought from Trulia.com
Data suggest spring is the best time to buy a home, but buying during peak season has its disadvantages.
Whether it’s the warmer weather, the pending summer break from school, or simply a seasonal mental shift, spring is hot for real estate. (In some markets, the spring home sales season even gets an early start.) “Statistically, spring has been the busiest season to purchase a property,” says Maria Babaev of Douglas Elliman Real Estate in Roslyn, NY. But is spring really the best time to buy a house? While there are certainly some advantages to buying during the coming months, there are also plenty of disadvantages. If you’re focused on optimal timing, consider these variables.
Pro: There’s more inventory It really is like clockwork: When April rolls around, property listings multiply like crocuses. One reason is that homes simply show better in the spring, with all the blooming flowers and the lack of snow. Sellers also feel more motivated once the warmer weather rolls around. And then, of course, success begets success. Potential sellers hear about all the bidding wars that result from springtime listings and figure it’s best to wait out the winter chill, then get a piece of the April action.
Con: There’s more competition There are many more homes to choose from, yes, but there are also more buyers looking at those homes. Many, many more. Spring produces a rush of potential bidders who, like many sellers, have sat out the previous season in hopes of having more options now. And more buyers, alas, means bidding wars and higher prices, says Babaev. Plus, anticipating this higher demand, sellers may have priced their homes a bit higher than they would in winter.
Pro: It’s the perfect time for families to shop Choosing to move your family is stressful no matter the time of year, but at least in the summer you won’t have to balance packing up your house with school pickup and moving dates with graduation dates. To execute the ideal summer move, you have to start house hunting … now. “Many families that are purchasing homes would like to be settled in their new residences prior to the start of the school year,” says Babaev. “With a standard transaction taking 60 to 90 days to close, they must be in contract by mid-June, which means they should really get serious about looking and making decisions in April/May.”
Con: The stress of relocating your family can lead to bad decision making With all the pressure to buy a home before the school calendar starts anew, it’s a lot easier to start compromising … and compromising … and compromising. If you’re looking to change school districts before fall, the desire to purchase anything could start to override common sense. Just remember that it’s possible you’ll be in your new home for a long time, so don’t make a hasty decision.
Pro: The weather makes for easier house hunting Home shopping in winter really is the worst. Driving through crappy weather, tromping through open houses in your socks because your boots must remain outside, totally guessing about the lovely landscaping because all the plantings are currently dead … it’s not a euphoric time to be browsing. But spring! The birds are chirping, the flowers are starting to bloom, and sunshine streams through the windows of your potential new home, showcasing it in its best light — literally.
Con: You have to move quickly All that natural sunlight does something to buyers’ urgency levels. I bought my last home in winter and still marvel at the sedate pace of the whole process. No competitors, little haggling, and just a chill rhythm to the whole thing. Spring is completely different. The gaggle of buyers often means that time is of the essence. Buyers move in the spring. Which means you have to move too. You won’t always have time go home to hash out the pros and cons of a house; in many cases, you’ll have to be ready to submit an offer quickly.
Pro: You might have some extra equity in your pocket Folks feel fairly flush in the spring. Christmas bills are in the rearview mirror, school expenses are dwindling, and there just might be a fat tax return burning a hole in their pockets. Sure, having a little extra cash might not let you bid much over the asking price, but it does let you pay for lawyers and extra inspections and moving vans and all those other expenses that start to build up when you’re under contract on a new home.
Con: Spring is a terrible time to negotiate The thing is, during the spring, you might have to offer more than asking price to stay competitive — or settle for being the backup offer. Simply put, spring is not the bargain season. If competition is fierce, you’re also more likely to find yourself in the middle of a bidding war. So while your finances might be a little stronger, as a potential buyer, you’re also going to be under more pressure to overspend. Such is the nature of the spring real estate beast.
Data suggest spring is the best time to buy a home, but buying during peak season has its disadvantages.
Whether it’s the warmer weather, the pending summer break from school, or simply a seasonal mental shift, spring is hot for real estate. (In some markets, the spring home sales season even gets an early start.) “Statistically, spring has been the busiest season to purchase a property,” says Maria Babaev of Douglas Elliman Real Estate in Roslyn, NY. But is spring really the best time to buy a house? While there are certainly some advantages to buying during the coming months, there are also plenty of disadvantages. If you’re focused on optimal timing, consider these variables.
Pro: There’s more inventory It really is like clockwork: When April rolls around, property listings multiply like crocuses. One reason is that homes simply show better in the spring, with all the blooming flowers and the lack of snow. Sellers also feel more motivated once the warmer weather rolls around. And then, of course, success begets success. Potential sellers hear about all the bidding wars that result from springtime listings and figure it’s best to wait out the winter chill, then get a piece of the April action.
Con: There’s more competition There are many more homes to choose from, yes, but there are also more buyers looking at those homes. Many, many more. Spring produces a rush of potential bidders who, like many sellers, have sat out the previous season in hopes of having more options now. And more buyers, alas, means bidding wars and higher prices, says Babaev. Plus, anticipating this higher demand, sellers may have priced their homes a bit higher than they would in winter.
Pro: It’s the perfect time for families to shop Choosing to move your family is stressful no matter the time of year, but at least in the summer you won’t have to balance packing up your house with school pickup and moving dates with graduation dates. To execute the ideal summer move, you have to start house hunting … now. “Many families that are purchasing homes would like to be settled in their new residences prior to the start of the school year,” says Babaev. “With a standard transaction taking 60 to 90 days to close, they must be in contract by mid-June, which means they should really get serious about looking and making decisions in April/May.”
Con: The stress of relocating your family can lead to bad decision making With all the pressure to buy a home before the school calendar starts anew, it’s a lot easier to start compromising … and compromising … and compromising. If you’re looking to change school districts before fall, the desire to purchase anything could start to override common sense. Just remember that it’s possible you’ll be in your new home for a long time, so don’t make a hasty decision.
Pro: The weather makes for easier house hunting Home shopping in winter really is the worst. Driving through crappy weather, tromping through open houses in your socks because your boots must remain outside, totally guessing about the lovely landscaping because all the plantings are currently dead … it’s not a euphoric time to be browsing. But spring! The birds are chirping, the flowers are starting to bloom, and sunshine streams through the windows of your potential new home, showcasing it in its best light — literally.
Con: You have to move quickly All that natural sunlight does something to buyers’ urgency levels. I bought my last home in winter and still marvel at the sedate pace of the whole process. No competitors, little haggling, and just a chill rhythm to the whole thing. Spring is completely different. The gaggle of buyers often means that time is of the essence. Buyers move in the spring. Which means you have to move too. You won’t always have time go home to hash out the pros and cons of a house; in many cases, you’ll have to be ready to submit an offer quickly.
Pro: You might have some extra equity in your pocket Folks feel fairly flush in the spring. Christmas bills are in the rearview mirror, school expenses are dwindling, and there just might be a fat tax return burning a hole in their pockets. Sure, having a little extra cash might not let you bid much over the asking price, but it does let you pay for lawyers and extra inspections and moving vans and all those other expenses that start to build up when you’re under contract on a new home.
Con: Spring is a terrible time to negotiate The thing is, during the spring, you might have to offer more than asking price to stay competitive — or settle for being the backup offer. Simply put, spring is not the bargain season. If competition is fierce, you’re also more likely to find yourself in the middle of a bidding war. So while your finances might be a little stronger, as a potential buyer, you’re also going to be under more pressure to overspend. Such is the nature of the spring real estate beast.
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