What to Evaluate When Considering a Detached Garage
Garages are getting a new, fresh consideration by homeowners these days. Once, garages served one purpose: to house and shelter your car. Today, a garage can serve many purposes, including storage, a playroom for the kids (or a game room for adults), and even a guest room that can be rented out to generate income. If you already have a garage for one purpose, you may be considering a second garage for additional reasons. Great idea, but it takes some serious consideration and planning. Here are just a few things to keep in mind when planning a detached garage: Start with your best reasons for building: Extra storage space Renting the space in order to generate income To house additional vehicles To create some solitude (or a mancave) Build a plan: How large will the garage be? Will it shelter vehicles? More than one? What kind of doors and windows will you include? What type of roof? Will this construction require contractors (and subcontractors)? Know the rules: Does your community require permits or inspections before building begins? Who is liable in case of an accident during and after the construction phase? Check your homeowners insurance. Determine if you are going to need a contractor to help you: Plan to request at least three quotes. Don’t automatically consider the lowest quote. Instead, consider reputations and recommendations. Try not to cut corners. Make sure to check if your contractor is listed with the Better Business Bureau. Trust your gut: does this contractor inspire confidence? Sign a contract so that there are no gray areas or miscommunication about what is needed to be done and when. Consider building materials (and any related building codes): If using a contractor, request a bill of materials (BOM). This is a list of all the materials required for the project. What type of framing (lumber) will you need? What type of foundation materials will you need (most common: cement)? Will your garage be heated or air conditioned? You then need to consider HVAC services and equipment. What type of materials will you need for your roof? What type of door and window materials will you need? Do any of your materials need to comply with your local building codes? Should you consider a prefab detached garage kit? They’re often designed to accommodate one car (but there are exceptions). Some offer additional space for tools and storage. Consider a kit that may also create a guest room or additional housing unit (ADU). How much will this garage cost you? Of course, it all depends on what type of garage you are building and where you are located. $16,766-$38,954, according to Home Advisor $35-$60 per square foot/$19,600-$28,200 average total cost, according to Home Guide. Average cost for a two-car, single story, finished interior, 576 square foot, asphalt shingles, vinyl siding: $52,830, according to Fixr. Bottom line: It’s undeniable: we all need more space. A detached garage on your property may be able to solve logistical problems or help serve a new purpose. However, don’t move forward until you have all of your ducks in a row, knowing what you’re up against, how much the project will cost, and that you are building legally. – Karl Kennedy
Exterior Home Projects that Increase Your Home’s Value
Spring will be here before you know it so now is a great time to start planning some exterior renovation projects that will be perfect for the warmer weather and boost your home’s value. The exterior of a home offers plenty of room for upgrades, so let’s go over some of the best projects you can undertake that will not only boost your home’s value but provide you some personal benefit as well. A New Roof The roof of your home has a huge impact on its value. By installing some fresh shingles or other types of roofing, you can achieve a fresh, crisp look up top that will be reflected in your home’s value. You can’t go wrong with new asphalt shingles, but you might also opt for synthetic cedar shakes, rubber slate roof tiles, or natural wood shakes. For an added bump in value, consider attaching some solar panels to your roof as well. Landscaping Another big-ticket upgrade that stands out upon first viewing of a home is a landscaping project. This can take the form of a beautiful, winding stone pathway, a pergola, gazebo, hedges, a garden, or anything else you can come up with. Having some sort of prominent, unique feature in your yard differentiates you from your neighbors and adds value to your home. Improve Your Facade Your facade generally refers to the front of your home. This includes everything from your siding to your front door. Improve it all in one fell swoop for maximum value. You can replace your front door with a newer version or style, or you could simply add a fancy knocker or some window panels. For siding, consider swapping out traditional vinyl for something with more value like fiber cement, stone veneer, or vertical metal siding which are some of the best house siding options on the market today. New Windows Windows play as big of a role in determining the value of your home as many other large features. They can let in natural light and improve the aesthetic tremendously if you pick the right kind. Adding a skylight or two as well as swapping out old windows for newer ones is another highly effective way to add value. Replace your old single-hung windows with more creative styles like a bay window, sliding windows, or even garden windows that allow you to grow flowers or vegetables indoors. Weatherproofing Leaks One easy and super cheap way to add value to your home is by weatherproofing windows and doors. Adding some weatherstripping, an AirDam, or both can eliminate those pesky air leaks and raise the energy efficiency level of your home, adding significant value to it. A New Garage Door Especially if your garage door is facing the street as most garage doors do, you need yours in tip-top shape. Try replacing your old door with a new one for a fresh look. There are plenty of styles and colors to choose from and nothing helps add to a home makeover than a brand new garage door. Upgrading from a manually opened garage door to an electronic one is highly advisable if you haven’t already. If you want to further improve your garage’s curb appeal consider adding a garage trim to it such as a curbed trim. A Pergola for the Backyard Shade is a hot commodity in these times, so give yourself some extra shade by building a pergola in your backyard. A pergola can be like a little oasis of shade, especially if you don’t have many trees in your backyard. There are even companies that offer kits and a full set of instructions for how to build your own pergola. Permeable Driveway If your home deals with driveway flooding at all, this can lower its worth. Raise your home value and remake your driveway by installing a permeable driveway with a built-in driveway drainage system. One of many driveway paving ideas is filling it with beautiful limestone which is even more durable than an asphalt or gravel driveway. Permeable paver driveways provide both style and functional drainage, lowering maintenance costs, and adding value to your property overall. Add a Water Feature A water feature is an excellent way to add some value to your home. By installing a fountain, duck pond, or even a small in-ground pool, you can add some serious character and depth to your backyard and thus achieve a higher asking price on the market. The types of materials to choose from when adding a water feature range from inexpensive to high-class and very expensive, so you have a lot of freedom to take this one as far as you want to. Upgrade your Home Exterior for a Big Boost in Property Value There are plenty of ways you can invest in your home’s exterior to raise its value. From smaller projects like weatherproofing your windows and doors or building a pergola, to slightly larger ones like adding a water feature, building a permeable paver driveway, or swapping out your old garage door for a new one, there’s no shortage of ways to raise your home’s value with some exterior remodeling projects in 2021. Contact Matt Scannapieco for a home value estimate and forecast for these exterior improvements. Matt Lee is the owner of the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value. – Matt Lee
Benefits of Retirees Selling Their House
The pandemic is hurrying this trend along: many retirees who have been cooped up in lock down may be looking to move to a warm-weather climate with plenty of safer outdoor space. This may be the perfect time to start a new life in a better place, and there are added benefits to the life change. Here are just a few: Enjoy a nice cushion of funds. It’s not uncommon for many people to begin their retirement with a shortage of savings. For those who own their house outright — or at least have a lot of equity in the property — a strong housing market could produce a surplus of funds for living, while finding a lower-cost new place to live. Allow for a tax break. Because of the Home Sale Exclusion, unmarried people can exclude up to $250,000 in profit from the sale of their main home. If you’re married, you can exclude $500,000. Note that you have to have lived in your home for two out of the five years from the date of sale. Other rules apply — be sure to check them out. Reduce annual property taxes Nobody wants to spend their retirement fund on expensive property taxes. Some property taxes are the same or even greater than a mortgage payment. Finding a new home in a new market may come with a greatly reduced property tax burden. Some markets — like Nevada and Florida — have no income tax. This makes the market particularly attractive, especially to retirees who plan to work part time or start a passion business. Reduce or eliminate maintenance. Older people may not want to be bothered with the usual maintenance tasks that they have had to do for years in their current home. It may be time for a condominium or rental that leaves the heavy lifting (and lawn mowing, and snow shoveling) to a maintenance team. Eliminate the challenge of stairs. Stairs can create a challenge for many retirees, and can affect the simple task of getting around. A ranch-style home, condo or garden apartment may eliminate the need for climbing stairs and make getting around much easier. Live in a higher-tech house. The idea that older people can’t handle new technology is nonsense. Retirees may love to start a new life in a new home that offers the most current features of good living. Perks could include smart refrigerators and lighting, laser projectors for watching movies, and bluetooth speakers throughout the home. Note: before you make any huge decisions like selling your current home, be sure to consult a professional Realtor for advice and navigation. Matt Scannapieco can prepare a CMA for you (a comparative market analysis) which compares your property with other homes in your neighborhood that have sold within the last 180 days or are currently listed. This gives you the best idea of what your home is worth, and may keep you from agreeing to a sale that is far below your home’s actual value. Bottom line: Not every retiree has the same idea of the perfect home, but common benefits like lower taxes and expenses, more income, easier ways to get around, and amazing modern technology could be a shared goal for starting a new life in a new place. Better late than never! – Karl Kennedy
Front-Line Worker Partnership
In response to the ongoing coronavirus pandemic, Franklin Investment Realty has outlined a partnership with front-line workers to assist making their real estate goals possible. We are offering a one time $1,000 settlement credit to both buyers and sellers indefinitely if you register with us before the end of May 2020. You can register below or at the following link: Front-Line Worker Registration. This partnership is designed to give back to all the front-line workers who have worked tirelessly throughout these unprecedented times not just with coronavirus but addressing all concerns. The front-line work force is very close to home having many family members and close friends working diligently during this pandemic. We want to honor all their hard work and consistent efforts far beyond the COVID-19 pandemic. Franklin Investment Realty will make your real estate goals possible. We have experience working with buyers, sellers, and investors throughout Bucks, Montgomery, and Philadelphia counties. Through the collaborative effort of our government, front-line workers, businesses and individuals, we look forward to putting an end to the coronavirus pandemic! – Matt Scannapieco