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    The Decline of the Open Kitchen

    The pandemic that began in 2020 was life-changing in all aspects, including home design. As workers stayed home to work remotely, they began to appreciate what a difference more space could make. Before long, the hottest housing market ever emerged as households sought larger homes with more creature comforts.

    What many found were homes that had been designed and built for busy dual-income families featuring a large bright “open kitchen.” Instead of separating the cook from the action in the den or living room, open floor plans allow cooking, eating, TV watching, working and socializing to take place in one large contiguous space. This was embraced as a liberating innovation that promoted connectivity for overscheduled families to see more of each other, but the result was more noise, more messes to look at, and a more chaotic environment.

    For luxury homeowners who value privacy, relaxation, and comfort, the open kitchen plan has had its day. Room differentiation makes a huge difference in creating an elevated lifestyle. One way to do that is to be more intentional with interior design, wall placement, and traffic flow. Good wall placement helps establish the desired ambiance for each space. The den is a family retreat again, the living room welcomes visitors and clients, and the kitchen is no longer party central. Explains MansionGlobal.com, separating rooms makes each one feel properly proportioned and easier to furnish. An open plan must be more cohesive, while defined rooms can have their own personalities and colorways.

     

    Does Outdoor Improvement Bring Happiness?

    Would you be happier if your outdoor space was remodeled with a fireplace, a swimming pool, or a new wood deck? In the 2023 Remodeling Impact Report: Outdoor Features, the National Association of REALTORS® found that nearly all homeowners reported increased happiness with their completed outdoor projects – 9.7 out of a possible “Joy Score” of 10.

    Using Census data for the average-sized U.S. home – 2,500 sq. ft., built after 1978, and situated on a 14,000 sq. ft. lot – NAR collaborated with the National Association of Landscape Professionals to learn the results of 11 landscaping projects, plus their costs, estimated return on investment for homeowners, and homeowner happiness.

    Among the outdoor projects included were: fire feature ($9,000), in-ground pool addition ($90,000), irrigation system installation ($6,000), landscape lighting ($6,800), landscape maintenance ($4,800), new patio ($10,500), new wood deck ($16,900), outdoor kitchen ($15,000), overall landscape upgrade ($9,000), tree care ($2,875) and standard lawn care service ($415).

    Interestingly, homeowner happiness was not tied to the highest cost recovery. Homeowners reported the highest Joy Scores for in-ground pool additions (10), landscape lighting (10), and new patios (9.9). Standard lawn care service, the least expensive of the 11 projects, had the highest cost recovery (217%), followed by landscape maintenance (104%), an overall landscape upgrade (100%) and an outdoor kitchen (100%).

    Consumers remodel to add features, improve livability, upgrade worn-out materials, or simply to make a change. Another benefit to outdoor remodeling is curb appeal, which is important to homebuyers, says 97% of NAR members.

    Happy Memorial Day!

    As we celebrate Memorial Day and the kick-off to summer, I just want to stop and remember that this day commemorates all the men and women who have died in the U.S. military service.  As a child of a veteran, this day makes me appreciate all those that did not come home and missed out on holidays just so we can celebrate with our families.  So please join me in taking a moment to Remember & Honor those who paid the ultimate sacrifice for their nation.

     

    Making Multigenerational Households Happy

     

    Between 20%-26% of the nation live in multigenerational homes with two or more adult generations or grandparents and grandchildren younger than 25. According to Homes.com, there are numerous benefits—multigen households save money and share responsibilities to improve wellbeing for all members. Children have fewer behavioral problems, grandparents are happier and less lonely, and their adult children have more financial and emotional support.

    Younger adults can improve their credit, reduce debt, and save for a down payment on their own home one day. Family members can combine their credit and cash to borrow bigger mortgage and remodeling loans to buy better homes, improve lifestyles and increase privacy.

    To make shared living successful, multigen households should establish some ground rules, advises Betterup.com.

    1. Create both common areas and separate spaces. All household members need privacy. Homes with dual owner’s suites, kitchenettes, private baths and separate entrances make it easy to live together and have privacy, too.
    2. Set boundaries. Establish everyone’s needs, expectations and personal preferences openly. Respect each other’s privacy, possessions and time.
    3. Do your part. Pay your fair share as agreed. Do your chores on time. Offer help when needed.
    4. Create opportunities for caregivers to recharge. Date nights and weekend getaways away from the house can be refreshing for parents or caregivers of aging parents.
    5. Create playtime for the whole family. Everyone can look forward to board game night, family vacations, trips to the park, school plays, or tickets to sporting and musical events.

    Improve Your Small Kitchen’s Functionality

    Kitchens with little workspace, poor lighting, cramped traffic flow, and inadequate storage can easily be redesigned into high-functioning spaces.

    Space Planning

    If there is room to borrow space from somewhere else—the utility room, pantry, or living area—you can increase functionality by installing new cabinets, drawers and countertops that are a few inches shallower than standard. You’ll have more room to walk around 18” deep cabinets and less trouble bending over to retrieve pots or dishes from the back of a 24” cabinet. Buy upper cabinets that go all the way to the ceiling for extra storage. Locate your dishwasher so that the open door doesn’t bang into nearby cabinets and drawers.

    Streamlining

    You’ll have more workspace if you keep countertops cleared of clutter. You can choose a cabinet that includes a convenient appliance garage to store blenders, coffee grinders, and other small appliances. Instead of building a separate pantry, attach an extra-tall cabinet unit on the end to use for canned goods, brooms, etc.

    Lighting

    Nothing beats natural light, but you can brighten workspaces with undercabinet lighting and canned ceiling lights. For overhead lights, install a flush-mount fixture with multiple lightbulbs.

    Appliances

    At 30”-36” wide, refrigerators can hog precious workspace. A narrower fridge between 24” and 28” is more suitable for a smaller kitchen. Microwave/convection/oven units cook multiple ways and can be recessed into a wall. Freestanding ovens with four-burner cooktops come as compact as 20” to 24”, large enough to roast a Thanksgiving turkey.

     

    Is Now the Time to Buy a Home?

    As the spring homebuying season kicks off, you may be ready to buy a home of your own, but continuing inflation, high home prices and high interest rates may be giving you pause. Is now a good time to buy a home?

    Market conditions are changing. According to a new report, national mortgage rates have gone from a high of 7.37% in October, to 6.2% into January 2023. Home prices in November were 2.5% lower than the peak achieved in spring 2022, and 42% of home sellers offered concessions in Q-4, 2022. Also boosting homebuyer confidence is that the job market has improved. In January 2023, the national unemployment rate lowered to 3.5% as employers added an unexpected 223,000 new jobs.

    While those shifts aren’t monumental, they’re making some consumers feel better about the housing market; homebuyers believe home prices will fall through Q3-2023, and they also said they believe mortgage rates will come down, despite the Federal Reserve’s determination to tame inflation by increasing interest rates.

    Let your Berkshire Hathaway HomeServices network professional show you the latest sales trends in the area where you want to live with a custom competitive market analysis. You can use the past six months of data to help your agent and you to develop a strategy such as choosing a less expensive neighborhood or a smaller home in the area you want. You may be pleasantly surprised that market conditions are more favorable at the local level than national data may indicate.

     

    Small Home Improvements, Big Results

    Whether you’re selling your home or wanting to add more decorative flair, consider small improvements with little money or time spent.

    The first thing you want to do is boost your curb appeal. Your home’s front entrance is crucial to first impressions. Add a new steel door or paint your existing door with a trendy new color. Round out the look with a new welcome mat, a new framed house number, a freshly painted mailbox, and planters of fresh greenery or flowers.

    Regular exposure to dirt, dust, spills, and high foot traffic makes wood and carpeted floors look dull, dirty and distressed. Polish your hardwood flooring once a year or when you list your home. Weekly vacuuming can pick up topical dirt from your carpets, but it takes professional equipment and cleaning solutions to remove stains, pet odors, allergens, dust mites, and deeply embedded dirt. Your carpets will look like new and last longer, too.

    Dress up your interior by installing new trim, molding and shelving. Crown molding and trim can transform a room, and it’s available already painted or you can paint it yourself. If space is an issue, add some decorative or modular shelving to an unused blank wall or cut out some drywall to make a recessed area for displays of books or collectibles. It will eliminate clutter from your tabletops and make your home appear larger.

    Last, replace outdated, yellowed outlet and light switch covers with upgraded plates in bronze or a modern ceramic.

    Selling an Out-of-state Home

    Whether you’re selling an inherited property, a second home, or your own home after moving out of state, handling a long-distance property transaction can be challenging. But with good professional help, you can easily sell your home without leaving the comfort of where you live.

    Ask your Berkshire Hathaway HomeServices network professional for a referral to a listing agent in the property’s area who has:

    1. Property management experience.
    2. Expertise with long-distance sellers.
    3. A strong network of homebuyers that they’ve brought to the table.

    Many real estate agents don’t manage properties, but the ones who do can help you with many services that you’ll need. For example, they can help you prepare your home for sale before it hits the market. They have turnkey resources such as a detail-oriented cleaning crew, staging professionals, landscapers, housekeepers, handymen, roofers, painters, carpenters and mold and radon mediation teams, as needed. They can recommend a real estate attorney or closing agent who will facilitate the closing of your property electronically.

    A listing agent who frequently works with buyers and is part of a large U.S. and overseas network such as Berkshire Hathaway HomeServices, is invaluable when it comes to marketing your home. They know what appeals to buyers in their market as well as to their network of professional contacts, past clients, and other sources of buyers.

    Your long-distance agent should contact you often with buyer comments, renovation updates and market conditions so you know your property is in good hands.

    How to Avoid Homebuyer’s Remorse

    Repairs or replacements that the homebuyer requires to be completed before closing on the sale of your home can blindside you if you’re not prepared. While any unforeseen expenses are an unwelcome surprise, you’ll still have to fix the problems or risk letting your buyer out of the contract and having to disclose the problems to future homebuyers.

    Homebuyers have the right to have the home they’re buying professionally inspected. The purpose of the inspection is to inform the buyer as to the condition, age and likely lifespan of major systems and appliances in the home. As a contingency in the contract, the buyer has the choice to proceed with the contract or ask the seller for repairs or replacements. This is fair because many issues with a home can’t be seen with the naked eye. An inspection gives a rough idea of future expenditures; if there are more problems than the buyer is willing to allow, the transaction will be in jeopardy. The buyer can’t help but wonder what other problems may come to light about the home.

    Your Berkshire Hathaway HomeServices network professional knows that the less the buyer finds wrong, the smoother the transaction will be. Before you put your home on the market, hire a licensed home inspector to alert you to unknown problems and repair or replace them so the buyer has no misgivings. You’ll also be able to ask a higher price for your home when it’s in pristine condition.

     

    How to Avoid Homebuyer’s Remorse

     

    A recent survey of homebuyers who purchased a home in 2021 and 2022 found that 72% had buyer’s remorse. Thirty-one percent paid over asking price, a median of $65,000; 36% made offers without seeing the home; and 43% made concessions to sellers such as waiving a home inspection.

    If you’re planning to buy a home in 2023, how can you avoid buyer’s remorse syndrome?

    Get prepared. Research neighborhoods and types of homes so you can find a home you’ll be happy with for years to come. You’ll need earnest money, a down payment, moving costs, utility deposits, unexpected repairs and replacements, and more. Talk to your lender and get pre-approved for a loan, so you’ll know the ceiling of what you can comfortably afford. Be clear about your needs and dealbreakers so your Berkshire Hathaway HomeServices network professional can help you search for the right property.

    Buy within your means. While you peruse homes online, shop within your budget. It does no good to look at homes you can’t afford or that aren’t the best fit for your household. If you need to consider fixer-uppers, make sure your mortgage loan can cover the necessary improvements. Be aware of all the costs, including taxes, HOA fees, mortgage insurance, moving, etc.

    Ask for seller concessions. Sellers in many markets are lowering their prices, agreeing to fix or replace expensive appliances or operating systems, paying the buyer’s closing costs, and other concessions. All you need to do is ask.