The Pros and Cons of Building a Home Addition

If you’re thinking about making an addition to your home, here are a few things you should consider first.

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Building a new addition to your home is a great idea for various reasons, but interest rates and property values can change the effectiveness of your investment. If you’re thinking about building a home addition, consider these four factors before making your decision:

1. Cost. When budgeting for your addition, it’s important to plan for the costs that are often associated with major home improvement projects. It’s also important to consider the additional costs of the utilities and taxes that will affect your annual budget.
2. Investment value. Experts suggest you can recover the cost of midrange home additions at the point of sale. This is the main inspiration for many homeowners investing in extra square footage. Even though extra square footage should drive up the value of your home, sellers don’t necessarily recoup the entire investment due to other variables associated with property values.

Always work with a reputable contractor.
3. Stress. From conflicts with contractors to the inconvenience of living in a construction zone, home renovations and new additions can be fraught with stress. While stress is a con, it’s also likely to be only a temporary problem. Moreover, selling your home and buying a new one may prove no less stressful. The most important thing is to make sure you’re using a reputable contractor.
4. Design aesthetics. A poorly designed addition can detract from the appearance of your home. It’s important for homeowners to work with an architect who has the experience and knowledge to create an addition to keep the aesthetic of your home. An addition that’s mismatched with the main construction can detract from the visual appeal of the house and ultimately turn off buyers.

Consider all the pros and cons when it comes to making a decision about a new home addition. Talking to other homeowners can also help you gather advice and enhance your decision making process.

If you have any questions about this topic, feel free to reach out to me. I’d be happy to help!

Debunking 4 More Real Estate Myths

Today I’m back to debunk some more common real estate myths.

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Purchasing in the greater Houston area? Get full MLS access

I’m back today debunking some more real estate myths! We went over the first three last time, which you can see by clicking here, and will go over the next four today.

4. You should choose the listing agent who says they will sell your home at the highest price. In the real estate world, that’s known as buying your listing. A true professional is going to tell you the facts, instead of what they think you want to hear. In fact, listing your home at the highest price could cause your home to sit on the market, causing people to wonder if there is something wrong with it.

A true professional is going to tell you the facts, instead of what they think you want to hear.

5. Spring is the best time to sell. While there are a lot of people who wait until spring to list, there are still quite a few people who sell in the winter and fall. There is less inventory on the market during the fall and winter, which increases the demand for homes. In the spring, there is definitely a lot more competition.

6. A cash offer is always best. While a cash offer is definitely a strong offer, it’s not always the best one. There are other elements of a contract that need to be taken into consideration, such as the sales price, contingencies, the timeline to get possession of the home, etc. Many people who come in with an all-cash offer are going to want a better price and they might make the seller feel rushed to get through the closing process.

7. You can sell your home without an agent and save money. It’s true that you technically can sell your home without an agent, but that doesn’t mean you’re going to save money. A real estate professional brings knowledge, expertise, negotiation skills, a client database, and established relationships with other Realtors to the table.

A Realtor is also better equipped to market your home not only because of their database, but also their access to technology. They will know where to market your property and what price your home should be listed at. Moreover, most home searches start online, so you want to make sure you can list your property on the multiple listing service, or MLS, website. For our area, that website is har.com, and only a licensed Realtor can post your listing on that site. Make sure you ask a lot of questions when hiring a Realtor so you can be sure you’re getting a true professional.

If you have any questions about real estate myths, or if you have any other real-estate related questions, please give me a call or send me an email. I look forward to hearing from you!

3 Must-Know Points About Home Inspectors

Whether you're hiring an inspector to examine a home you want to buy or to preemptively find any hidden defects in a home you want to sell, there are three key things you need to know.

Selling in the greater Houston area? Get a market analysis report

Purchasing in the greater Houston area? Get full MLS access

If you're looking to hire an inspector for a home you want to buy or you're selling your home and you want to find out about any hidden problems you need to fix before putting your home on the market, there are three key things you should know:

1. You choose your own home inspector. Your real estate agent can recommend one to you or you can find one your own. Members of the National Association of Home Inspectors must complete an approved home inspection program, complete a written exam, demonstrate experience and competency as an inspector, and adhere to the NAHI Standard of Practice and Code of Ethics.

Inspectors will point out adverse or potentially dangerous conditions in a home—not cosmetic flaws.

2. Home inspections are intended to point out adverse conditions—not cosmetic flaws. An inspector will point out things that either need to be repaired or pose potential safety issues on the property. They won't comment on any cosmetic items if they don't impair the home's integrity and they don't do destructive testing.

3. Home inspection reports include only the basics. Inspections should cover the home's exterior and things like steps, porches, decks, chimneys, roofs, windows, doors, and other similar items. Inside the home, they'll look at attics, electrical components, plumbing, central heating and air, and crawlspaces and attics as applicable. They'll also report on the working order of things like faucets and whether they're leaking, as well as garage doors to see whether they're working. They might also point out termite damage and suggest a separate pest inspection. The final report should be concise and easy to understand.

If you need a referral for a great home inspector or you're looking to buy or sell a home in the Houston area, don't hesitate to give me a call or send me an email. I'd love to help you out!