Real Estate March 15, 2023

7 Ways to Make Life Easier When Selling Your Home

When it’s time to sell a home, we all dream of a flawlessly executed transaction where everything goes smoothly and ends with a win-win for you and the buyer. Here are seven tips to help make that happen—and avoid surprise expenses along the way…

1. Repair Your Home First

Making repairs to your home before you sell not only makes it more appealing to buyers, but it can also help you avoid the additional costs that can result from the buyer’s inspection. Disclosing any repairs that still need to be made will help you move smoothly to closing and avoid problems that could otherwise kill the deal. Consider conducting a pre-listing inspection to make sure everything is out in the open before you sell.

2. Make Sure Your Price is Right

The key to selling your home quickly is to find the right buyers. To find the right buyers, your home must be correctly priced. I use a Comparative Market Analysis (CMA)—a thorough, data-backed examination of your home and how it compares to other listings in your area—to accurately price your home. Without an agent’s CMA, it’s easy for your home to be listed at the wrong price.

    • Avoid Overpricing: Overpricing your home will attract the wrong buyers because you will force your home into competition with other listings that are fundamentally superior or have more to offer. When comparing other homes to yours, buyers will focus on the discrepancies and the features your home lacks. Overpricing will often cause homes to sit on the market for extended periods of time and become less appealing to buyers.
    • Avoid Underpricing: Under competitive market conditions, intentionally underpricing a home is a common strategy to attract buyer attention with the goal of starting a bidding war to drive the price of the home up. However, several things must go correctly for this to happen. In all other cases, underpricing your home reflects a lack of knowledge about where its market value fits into the fabric of current local market conditions and can leave you, the seller, unsatisfied with the price your home ultimately fetches.

3. Invest In Staging & Professional Photography

First impressions matter when selling a home. The vast majority of buyers are searching online and taking virtual tours of homes they’re interested in. As such, it’s well worth the time and money to hire a high-quality photographer and I always provide this for my sellers. The right photography can make all the difference in the minds of buyers.

Home staging is also a critical element for getting the most value for a home and selling it quickly. You can even DIY if you have the time and modern decor. It’s also the perfect time to inspect your home for any minor or cosmetic repairs that can be addressed quickly. An aesthetically pleasing home will attract more eyes, and any edge you can give your home over competing listings may be just the ticket to getting it sold.

4. Keep Your Emotions in Check

Selling your home is an act of learning how to let it go. Once you know you’re ready to sell, you’ll need to be able to look at it with an objective eye. This will allow you to approach decisions from a neutral standpoint and work towards what is best for the sale of the home. Having clear judgement will also help you get through the negotiating process and steer yourself toward a smooth closing. Stepping back can be tough, but a good agent will always be happy to give you guidance and help you keep perspective.

5. Wait Until You’re Ready

It may be tempting to rush your listing to take advantage of local market conditions, but waiting until you have all your ducks in a row will make life so much easier. Knowing when to sell your home is a mixture of being financially prepared, having the right agent, and understanding how your home fits into the current local market landscape. Once you’re ready, here are some tips on timing the market.

6. Use an Agent

…and I’m not just saying it because I’m an agent! Selling a home “For Sale By Owner” (FSBO) can save on commission fees, but is a complex and risky process that can easily lead to serious costs. An agent will help you front marketing costs, provide sound advice to help you avoid legal trouble, and ultimately shoulder some of the liability for the transaction. Being represented by an experienced professional will help you avoid mistakes during the offer process, negotiations, and closing that could otherwise be costly or jeopardize the sale. It’s no wonder that a vast majority of sellers choose to work with an agent.

7. Be Willing to Negotiate

Approaching buyers’ offers with an open mind will ensure you don’t miss any opportunities. Before the offers start to come in, it’s important to work with your agent to understand your expectations and strategize which terms and contingencies you’re willing to negotiate on. That way, you can quickly identify the right offer when it comes along. Showing a willingness to work with buyers will also keep them engaged and make sure you don’t leave potential deals on the table.


 

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© Copyright 2023 Windermere Mercer Island.

Adapted from articles that originally appeared on the Windermere blog, November 22, 2021 & April 7, 2021, by Sandy Dodge.

 

Real Estate February 17, 2023

Preparing to Sell Your Home: A Complete Checklist

Getting your home ready to sell can feel like a circus act. Without the right organization, juggling the countless moving parts involved in this stage of the selling process can take its toll. This is the perfect opportunity to create a checklist to keep yourself on track and within your budget. The following information will illuminate the key responsibilities you face as a homeowner as you prepare to hit the market.

We’ve included a comprehensive checklist below of the common tasks required to get your home ready to sell. It is also available as a downloadable pdf here:

Home Prep Checklist PDF

EXTERIOR

This list of value-adding curb appeal projects will help to form buyers’ first impressions of your home and make your ever-important exterior listing photos stand out amongst the competition.

  • Remove peeling and chipped paint; replace with a fresh coat
  • Fix loose trim and fencing
  • Clear gutters and downspouts
  • Make sure there is good exterior lighting and all walkway lights and front-door lanterns work
  • Clean and repair the roof as needed
  • Clear garage of clutter and tidy shelves
  • Inspect chimney for cracks and damage

Yard

  • Mow and trim grass; re-seed and fertilize where necessary
  • Prune all overgrown trees and shrubs
  • Weed flower beds
  • Remove or replace dead or diseased plants, shrubs, and trees
  • Clean grease and oil stains from driveway

Decks/Patios

  • Paint or stain worn areas on wood decks
  • Remove grass growing in concrete cracks; sweep off debris from shrubs and trees
  • Clean all deck rails and make sure they’re secure; replace missing slats or posts
  • Clean outdoor furniture

Front Door

  • Add a fresh coat of paint to get rid of nicks
  • Clean the glass on the storm door; make certain the screen is secure
  • Make sure the doorbell operates properly and there are no squeaks when the door opens and closes

Windows

  • Clean all windows inside and out
  • If needed, add a fresh coat of paint to the window trims and sills
  • Make sure all windows open and close easily
  • Replace cracked windowpanes and those with broken seals
  • Make sure window screens are clean and secure; replace any screens with holes or tears

Front Entry

  • Clean entryway floors and area rugs
  • Downsize clutter in the entry and entry closet to give the appearance of spaciousness
  • Double-check entry lighting to make sure it works

INTERIOR

Not only will these interior projects get your house sparkling clean, but they’re also preparatory steps for staging your home and hosting open houses.

General Interior Cleaning

  • Clean all floors, carpets, walls, and trim
  • Replace burned-out light bulbs
  • Empty trash
  • Remove family photos, valuables, and prescription drugs
  • Tidy up clutter

Kitchen

  • Fix dripping faucets
  • Organize pantry and cupboards so they appear clean, neat, and spacious
  • Make sure the refrigerator and freezer are defrosted and free of odors
  • Clean the oven and cooktop thoroughly
  • Set the table

Living/Family/Dining Rooms

  • Give rooms a fresh coat of paint as needed
  • Repair cracks and holes in ceiling and walls
  • Make sure all wallpaper is secure
  • Repaint any woodwork that is worn or chipped
  • Clean or replace draperies and blinds; open them to maximize light
  • Make sure draperies and blinds open and close
  • Steam-clean carpets
  • Clean rugs and wood flooring, and remove any stains or odors
  • Position the furniture to showcase the size and space of the room
  • Remove and replace any attached items, such as chandeliers and draperies, that you wish to move with you
  • Put away toys and hobby supplies; remove extra magazines and books from tables

Bathrooms

  • Make sure sinks, tubs, showers, and countertops are clean and free of stains
  • Repair any leaky faucets
  • Remove grout and soap stains from tile
  • Replace any missing or cracked tiles or grout
  • Make sure all joints are caulked
  • Make sure all fixtures, including heat lamps and exhaust fans are operating
  • Install a new shower curtain and buy matching towels
  • Store all supplies, such as toilet paper, shampoo bottles and cleansers, out of sight

Bedrooms

  • Repair cracks in ceiling and walls
  • Apply a fresh coat of paint if necessary
  • Make sure all wallpaper is secure
  • Clean draperies and blinds; open them to maximize light
  • Put away toys, clothes, and clutter
  • Neatly make up the beds

Basement

  • Check for water penetration or dampness; call for professional repairs if necessary
  • Get rid of musty odors
  • Clean furnace, hot water heater, and drains
  • Make sure light fixtures work
  • Arrange storage area in a neat and organized manner
  • Make sure stairway handrail is secure

Tidy Extras

  • Use air fresheners or bake treats to make the house smell good
  • Plant flowers to brighten the walkway and enrich the entry
  • Remove any indoor houseplants that are brown or losing their leaves
  • Remove all “fixer” cars, campers, and boats from the property
  • Tidy and declutter all closets
  • Hide or get rid of worn-out throw pillows
  • Store pet supplies
  • At night, turn on the porch light and outdoor lighting

For more information on preparing to sell your home, visit my Home Selling Guide:

 


This article originally appeared on the Windermere blog June 29th, 2022. Written by: Sandy Dodge.

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© Copyright 2023, Windermere Real Estate/Mercer Island.

Real Estate February 1, 2023

Q4 2022 Western Washington Economic & Real Estate Update

The following analysis of select counties of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. I hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.

 

Regional Economic Overview

Although the job market in Western Washington continues to grow, the pace has started to slow. The region added over 91,000 new jobs during the past year, but the 12-month growth rate is now below 100,000, a level we have not seen since the start of the post-COVID job recovery. That said, all but three counties have recovered completely from their pandemic job losses and total regional employment is up more than 52,000 jobs. The regional unemployment rate in November was 3.8%, which was marginally above the 3.7% level of a year ago. Many business owners across the country are pondering whether we are likely to enter a recession this year. As a result, it’s very possible that they will start to slow their expansion in anticipation of an economic contraction.

Western Washington Home Sales

In the final quarter of 2022, 12,711 homes sold, representing a drop of 42% from the same period in 2021. Sales were 34.7% lower than in the third quarter of 2022.

Listing activity rose in every market year over year but fell more than 26% compared to the third quarter, which is expected given the time of year.

Home sales fell across the board relative to the fourth quarter of 2021 and the third quarter of 2022.

Pending sales (demand) outpaced listings (supply) by a factor of 1:2. This was down from 1:6 in the third quarter. That ratio has been trending lower for the past year, which suggests that buyers are being more cautious and may be waiting for mortgage rates to drop.

A bar graph showing the annual change in home sales for various counties in Western Washington from Q4 2021 to Q4 2022. All counties have a negative percentage year-over-year change. Here are the totals: Jefferson at -19.9%, Skagit at -27.7%, Mason -30.7%, Lewis -30.9%, Clallam -34.3%, Whatcom -36.3%, Kitsap -38.5%, Snohomish -40.3%, Island -42%, Grays Harbor -42.3%, King -43.1%, Thurston -45.8%, San Juan -46.8%, Pierce -46.9%.

Western Washington Home Prices

Sale prices fell an average of 2% compared to the same period the year prior and were 6.1% lower than in the third quarter of 2022. The average sale price was $702,653.

The median listing price in the fourth quarter of 2022 was 5% lower than in the third quarter. Only Skagit County experienced higher asking prices. Clearly, sellers are starting to be more realistic about the shift in the market.

Even though the region saw aggregate prices fall, prices rose in six counties year over year.

Much will be said about the drop in prices, but I am not overly concerned. Like most of the country, the Western Washington market went through a period of artificially low borrowing costs, which caused home values to soar. But now prices are trending back to more normalized levels, which I believe is a good thing.

A map showing the real estate home prices percentage changes for various counties in Western Washington. Different colors correspond to different tiers of percentage change. Grays Harbor and Whatcom Counties have a percentage change in the -6.5% to -3.6%+ range, Clallam, Jefferson, King, and Skagit counties are in the -3.5% to -0.6% change range, Snohomish and Pierce are in the -0.5% to 2.4% change range, Mason, Thurston, Island, and Lewis counties are in the 2.5% to 5.4% change range, and San Juan County is in the 5.5%+ change range.

A bar graph showing the annual change in home sale prices for various counties in Western Washington from Q4 2021 to Q4 2022. San Juan County tops the list at 6.9%, followed by Lewis at 4.8%, Thurston at 3.8%, Island at 3.7%, Mason at 3.5%, Snohomish at 0.8%, Pierce at -0.2%, Clallam at -1%, Skagit at -2.1%, Jefferson at -2.5%, King at -3.1%, Whatcom at -4.1%, Kitsap at -5.3%, and finally Grays Harbor at -6.5%.

Mortgage Rates

Rates rose dramatically in 2022, but I believe that they have now peaked. Mortgage rates are primarily based on the prices and yields of bonds, and while bonds take cues from several places, they are always impacted by inflation and the economy at large. If inflation continues to fall, as I expect it will, rates will continue to drop.

My current forecast is that mortgage rates will trend lower as we move through the year. While this may be good news for home buyers, rates will still be higher than they have become accustomed to. Even as the cost of borrowing falls, home prices in expensive markets such as Western Washington will probably fall a bit more to compensate for rates that will likely hold above 6% until early summer.

A bar graph showing the mortgage rates from Q4 2020 to the present, as well as Matthew Gardner's forecasted mortgage rates through Q4 2023. After the 6.79% figure in Q4 2022, he forecasts mortgage rates dipping to 6.27% in Q1 2023, 6.09% in Q2 2023, 5.76% in Q3 2023, and 5.42% in Q4 2023.

Western Washington Days on Market

It took an average of 41 days for homes to sell in the fourth quarter of 2022. This was 17 more days than in the same quarter of 2021, and 16 days more than in the third quarter of 2022.

King County was again the tightest market in Western Washington, with homes taking an average of 31 days to find a buyer.

All counties contained in this report saw the average time on market rise from the same period a year ago.

Year over year, the greatest increase in market time was Snohomish County, where it took an average of 23 more days to find a buyer. Compared to the third quarter of 2022, San Juan County saw average market time rise the most (from 34 to 74 days).

A bar graph showing the average days on market for homes in various counties in Western Washington for Q4 2022. King County has the lowest DOM at 31, followed by Kitsap at 45, Island and Snohomish at 35, Whatcom, Thurston, and Skagit at 36, Pierce at 37, Clallam at 38, Jefferson at 40, Mason at 43, Grays Harbor at 46, Lewis at 49, and San Juan at 74.

Conclusions

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

The regional economy is still growing, but it is showing signs of slowing. Although this is not an immediate concern, if employees start to worry about job security, they may decide to wait before making the decision to buy or sell a home. As we move through the spring I believe the market will be fairly soft, but I would caution buyers who think conditions are completely shifting in their direction. Due to the large number of homeowners who have a mortgage at 3% or lower, I simply don’t believe the market will become oversupplied with inventory, which will keep home values from dropping too significantly.

A speedometer graph indicating a balanced market, barely leaning toward a seller's market in Western Washington in Q4 2022.

Ultimately, however, the market will benefit buyers more than sellers, at least for the time being. As such, I have moved the needle as close to the balance line as we have seen in a very long time.

About Matthew Gardner

Matthew Gardner - Chief Economist for Windermere Real Estate

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

 


This article originally appeared on the Windermere blog January 26th, 2023. Written by: Matthew Gardner.

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© Copyright 2023, Windermere Real Estate/Mercer Island.

 

Real Estate November 17, 2022

What is an Adjustable-Rate Mortgage (ARM)?

Securing the most advantageous financing for your situation is an integral part of the success formula of buying a home. After getting pre-approved but once you’ve found the home you’d like to pursue, one of your primary tasks is exploring different loan products to see which best fits your situation. This is the fork in the road where you’ll need to decide between a fixed-rate mortgage and an adjustable-rate mortgage (ARM). The following information will help you gain a better understanding of ARMs to help you decide whether they’re right for you.

What Is an Adjustable-Rate Mortgage (ARM)?

After your down payment, your mortgage will finance the remainder of your home purchase. Whereas fixed-rate mortgages allow you to lock in a specific interest rate and payment for the life of your loan, adjustable-rate mortgages’ interest rates will fluctuate over time, thus changing your loan payment. It’s typical for ARMs to begin with a low introductory interest rate, but once that first stage of the loan has passed, they will begin to shift up and down. ARMs generally have a cap that specifies the maximum rate that can occur for that loan.

Let’s say you secure an adjustable-rate mortgage with 30-year terms, the first five of which are at a fixed rate. When the variable interest portion of the loan kicks in, your mortgage’s fluctuations will be measured against an index. If the index is higher than when you secured the loan, your rate and loan payment will go up—and vice versa. How often your ARM rates change depends on your agreement with your lender. Talk to your mortgage broker to learn more about the characteristics of adjustable-rate mortgages.

 

A mortgage broker explains the terms of an adjustable-rate mortgage to a man and a woman looking to buy a house

 

Pros and Cons of an Adjustable-Rate Mortgage (ARM)

 

Pros Cons
  • If the index decreases over time, you could end up with a lower interest rate and monthly payments.
  • If you plan to live in the home for a long time, a fixed-rate mortgage may be a better option.
  • The low introductory rate allows you to save money and plan for when the adjustable-rate period kicks in.
  • Without knowing what will happen to interest rates, your monthly payments could become unaffordable.
  • If you plan on selling in a few years, you can use the proceeds to pay back your mortgage before the fixed-rate period ends.
  • Financial planning is more difficult with an ARM, since there’s no telling what your monthly payments will be one year to the next.
  • If the experts are correct and rates stabilize over the term of your ARM, you can save money now then refinance into a fixed rate mortgage when the time is right.

Different Types of Adjustable-Rate Mortgages (ARMs)

Hybrid ARM: As outlined above, a hybrid ARM begins with a fixed-rate introductory period followed by an adjustable-rate period. Typically, a hybrid ARM’s fixed-rate period lasts anywhere between three to 10 years, and its rates adjust at an agreed-upon frequency during the adjustable-rate period, such as once every six months or once a year.

Interest-Only ARM: With an interest-only ARM, you pay just the interest on the loan for a specified introductory period, then the principal payments kick in on top. The longer the introductory period, the higher your payments will be when the delayed principal payments enter the equation.

Payment-Option ARM: Not all states allow these loan products because they can get home buyers into hot water quickly if rates increase. They include flexibility to choose your monthly payments with a payment-option ARM, including interest-only payments and minimum payments that don’t cover interest.

 

Home Monthly Payment Calculator

To get an idea of how your mortgage payment will fit into your budget, use our free Home Monthly Payment Calculator by clicking the button below. With current rates based on national averages and customizable mortgage terms, you can experiment with different values to get an estimate of your monthly payment for any listing price.

 

Adapted from an article that originally appeared on the Windermere blog September 28, 2022. Written by: Sandy Dodge.


 

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© Copyright 2022, Windermere Real Estate/Mercer Island.

 

Tips, Trends & Living September 13, 2022

Your Fall Home Maintenance Checklist

A clever person solves a problem;

a wise person avoids it.

As the days shorten, you can mitigate many mid-winter headaches with some preemptive prep. Proper weatherizing can help protect your home from preventable damage, save money on energy costs, and, most importantly, keep you and your loved ones safe and warm throughout the winter season. Here is a useful checklist to manage your weatherization project. Setting aside some time on a couple of weekend days should be more than enough to knock this out. Scroll down for helpful tips and click here for a printable checklist!

 

1. Clean the Gutters

After all the leaves, pine cones, pine needles, and other autumnal debris have fallen, clear them out from your rain gutters. This will avoid gutter damage from ice or melted snow draining improperly. Even in warmer locales, gutter buildup & leakage can put undue stress on your roof and home. Make sure your downspouts are pointing away from your home’s foundation to prevent basement leaks and flooding.

 

2. Look at the Roof

Check for any damaged shingles, corroded flashing, or leaky vents that need to be repaired. When the first heavy rain comes after a long dry spell, check the underside of the roof for moisture on joints or insulation. Mark any spots that you find and then hire a roofing specialist to repair these leaks. If you wait until spots show up on your ceiling, insulation and sheet rock will have also been damaged and you could have a mold problem too. You can find tips on how to solve roof & gutter issues in this great article from http://FamilyHandyman.com.

 

3. Check the Siding

While the weather is still nice, look for any gaps or cracks and seal them with exterior caulk (here are some tips). You should also touch up any old or loose paint to ensure your home’s exterior has a weatherproof seal.

 

4. Trim Tree Limbs

If your property has large trees, check for loose branches and call someone to trim back any limbs that may fall in your yard, on your roof or even damage a window. Branches that touch your house and overhang your roof are convenient on-ramps for pests, so trim back branches so they’re at least four feet from the house.

 

5. Reverse Ceiling Fans

If you have ceilings fans in your home, there is a handy trick you can use to improve your home’s heating efficiency. By reversing the direction of your ceiling fan—running the blades in a clockwise direction—you’ll create a slight updraft, forcing warm air near the ceiling downward.

 

6. Weatherize Doors

If an exterior door doesn’t have a snug seal when closed, replace the weather stripping; self-adhesive foam stripping is much simpler to install than traditional vinyl stripping but has a shorter lifespan. If there is a gap under the door (which can happen over time as a house settles), you may need to realign the door and replace the vinyl door bottom and/or door sweep.

 

7. Service the Furnace

Preventative maintenance is crucial for your home’s heating and air-conditioning systems. Fall is a smart time to have your systems checked and tuned up. Don’t wait for extreme temperatures to arrive, when service companies are slammed with emergency calls. Replace filters if you use a furnace and clear out any vents and ducts that carry heat through them. If you have baseboard heaters, wipe them of dust and remove any debris that might catch fire.

 

8. Check the Chimney

Make sure to have chimneys and air vents inspected and cleaned early in the season if you are planning on warming your home with a wood-burning source. When your fireplace is not in use, make sure to close the damper—some resources estimate an open damper can increase energy consumption by as much as 30%, increasing your bill about $200.

 

9. Test Safety Devices

Most house fires happen in the fall and winter, with holiday cooking and heating systems both being common causes. Deadly carbon monoxide can also be released by furnaces, stoves, fireplaces, and space heaters. Protect your household by replacing any smoke detectors and carbon monoxide monitors as needed. Check the indicators on your fire extinguishers to make sure they’re still good (or install them if you don’t have them—a Class B extinguisher for the kitchen is a good place to start, but you might need more according to this guide).

 

10. Winterize Plumbing

Make sure any pipes in unheated spaces—such as the crawl space, basement, or garage—are properly insulated to prevent freezing and bursts. Disconnect hoses and install hose bib covers on all outdoor faucets. Winterize your in-ground sprinkler system…here’s a great wikiHow article with 3 different methods.

 


 

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We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative, and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

2737 77th Ave SE, Mercer Island, WA 98040 | (206) 232-0446
mercerisland@windermere.com

© Copyright 2022 Windermere Mercer Island.

Adapted from articles that originally appeared on the Windermere blog December 21, 2020, by Sandy Dodge; October 7th, 2019 by Meaghan McGlynn; and September 16, 2016 by Windermere Staff.

 

Real Estate June 3, 2022

How to Avoid Overpaying for a Home in a Transitioning Market

Look Carefully at the Home Itself

Here are four home attributes beyond the number of bedrooms and baths that you should have your eye on…

 

Home (building) quality: Very well-built homes are a rare find and typically worth every penny of their price. Don’t confuse them with so-so homes that just measure up to the city inspector’s threshold. Lesser quality homes will cost you more in upkeep and replacement as systems and components wear out. If you purchase a lesser quality home for less, the differential might just cover the added maintenance expense. But, if you purchase a fair quality home at the going rate of higher quality homes, you might likely be overpaying.


Deferred maintenance: Different than home quality, deferred maintenance includes the to-do list of items that need to be done to maintain a home’s integrity. A home that has been well maintained over its life typically is a better investment than one that hasn’t. The true cost of deferred maintenance often adds up to more than the cost of the repairs themselves. Don’t forget to factor in the reduced life span of other components—like replacement of damaged wood beneath peeling paint or mold remediation in a damp basement caused by a clogged foundation drain.


Setting: The saying “location, location, location” didn’t get its fame from out of nowhere. A home with an ideal setting on its lot and in the neighborhood—away from busy roads and utility poles/boxes, with adequate privacy, good topography, best positioned to capture views if available, and not adjacent to undesirable elements (poorly maintained homes, water towers or other unsightly public structures, high traffic facilities, etc.) will have more value than a less-ideally sited home. When deciding what to pay for a property it is critical that you evaluate these aspects and any others relevant to a specific neighborhood to determine the +/- effect on value.


Floor plan: How a home lives—flow from room to room, size of rooms, open/closed-off spaces, and below ground vs. above ground living are every bit as important as the total home square footage. You can change a lot of things about a home, but it is very difficult to change a bad floor plan. When you are deciding how high to make that multiple offer bid, consider factoring in the added value or take-away of the floor plan.

 

Beyond the Four Walls


Interest Rates: In addition to being more selective about the home itself, it pays off to understand how interest rates impact your monthly housing cost. It’s a bigger deal than you might think. Every 1% increase in interest rate equates to roughly a 10% decrease in buying power. Said differently, a 10% drop in home sale price would be wiped out by a subtle 1% increase in mortgage interest rate. This means you can obtain a much more expensive home when rates are low, whereas higher rates get you less home—even though you still pay the same monthly payment.


If you have $5,000 a month to budget for a house payment (before taxes and insurance), you could purchase a $931,000 house at a 5% mortgage rate. If rates went up to 6%, the same monthly payment would only get you an $834,000 home. Your buying power diminishes considerably with each bump up in rates.

 

What you can afford based on the current interest rate.

 

This second chart below shows how interest rates impact monthly payments. If you’re purchasing a $950,000 house at a 5% interest rate, you’ll be paying $596 less every month than if rates were 6%. That adds up quick…$7,152 in one year alone!

 

Your monthly payment based on the current interest rate.

 


Job and Location Stability: Like nearly any investment vehicle, being able to buy and sell on your own time allows you take advantage of ideal market conditions or hold until a more favorable market returns. In an uncertain market, you should plan to be able to stay put for a minimum of 5-7 years if needed. If relocation or job loss is a distinct possibility, waiting to buy might avoid loss as a result of an untimely sale.


Homeownership Lifestyle: For many, homeownership represents a life accomplishment, independence, and financial security. For others, one more thing requiring maintenance and upkeep. Knowing where you stand (at this moment in time anyway) when it comes to evaluating the pros and cons of homeownership as a lifestyle choice is a better first step than an afterthought.

 

Final Thoughts

Want to know how you can best protect yourself in a changing real estate market? Reach out to us for help evaluating whether it would make financial sense to buy now or wait.

 


 

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We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative, and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

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© Copyright 2022, Windermere Real Estate/Mercer Island.

Real EstateTips, Trends & Living March 14, 2022

Should You Remodel or Sell Your Home As Is?

Homeowners who are preparing to sell are often faced with a dilemma about whether to remodel or sell their home in its current state. Each approach has its respective advantages and disadvantages. If you decide to remodel your home, it will likely sell for more; but the increased selling price will come at the cost of financing the remodeling projects. If you decide to sell without remodeling, you won’t spend as much money putting your home on the market, but the concern is whether you’re leaving money on the table.

 

Should I Remodel or Sell My Home As Is?

To answer this question, it’s important to understand the factors that could influence your decision and to work closely with your agent throughout the process.

 

Cost Analysis: Home Remodel vs. Selling Your Home As Is

Home Remodel

When you remodel your home before selling, you’re basically making a commitment to spend money to make money. So, it’s important to consider the kind of ROI you can expect from different remodeling projects and how much money you’re willing to spend. Start by discussing these questions with your agent. They can provide you with information on what kinds of remodels other sellers in your area are making and the returns they’re seeing as a result of those upgrades. This will help you determine the price of your home once your remodel is complete.

Then, there’s the question of whether you can complete you remodeling projects DIY or if you’ll need to hire a contractor. If hiring a contractor seems expensive, know that those costs come with the assurance that they will perform quality work and that they have the skill required to complete highly technical projects.

According to the Remodeling 2021 Cost vs. Value Report for Seattle (www.costvsvalue.com1), on average, Seattle-area homeowners paid $28,967 for a midrange bathroom remodel and $29,183 for a minor kitchen remodel, with a 76.9% and 87.7% ROI respectively. This data shows that, for these projects, you can recoup a chunk of your costs, but they may not be the most cost-effective for you. A more budget-friendly approach to upgrading these spaces may look like repainting your kitchen cabinets, swapping out your old kitchen backsplash for a new one, refinishing your bathroom tub, or installing a new showerhead. Other high-ROI remodeling projects may allow you to get more bang for your buck, such as a garage door replacement or installing stone veneer. To appeal to sustainable-minded buyers, consider these 5 Green Upgrades that Increase Your Home Value.

 

Cost vs Value for Remodeling Projects in Seattle

 

Selling Your Home As Is

Deciding not to remodel your home will come with its own pros and cons. By selling as is, you may sell your home for less, but you also won’t incur the cost and headache of dealing with a remodel. And since you’ve decided to sell, you won’t be able to enjoy the fruits of the remodel, anyway. If you sell your home without remodeling, you may forego the ability to pay down the costs of buying a new home with the extra money you would have made from making those upgrades.

 

Market Conditions: Home Remodel vs. Selling Your Home As Is

Local market conditions may influence your decision of whether to remodel before selling your home. If you live in a seller’s market, there will be high competition amongst buyers due to a lack of inventory. You may want to capitalize on the status of the market by selling before investing time in a remodel since prices are being driven up, anyway. If you take this approach, you’ll want to strategize with your agent, since your home may lack certain features that buyers can find in comparable listings. In a seller’s market, it is still important to make necessary repairs and to stage your home.

In a buyer’s market, there are more homes on the market than active buyers. If you live in a buyer’s market, you may be more inclined to remodel your home before selling to help it stand out amongst the competition.

 

Timing: Home Remodel vs. Selling Your Home As Is

Don’t forget that there is a third option: to wait. For all the number crunching and market analysis, it simply may not be the right time to sell your home. Knowing that you’ll sell your home at some point in the future—but not right now—will allow you to plan your remodeling projects with more time on your hands which could make it more financially feasible to complete them.

For more information on how you can prepare to sell your home, connect with one of our local agents—we’re always happy to chat about your situation and offer advice.

 

1©2021 Zonda Media, a Delaware corporation. Complete data from the 2021 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.

This article originally appeared on the Windermere blog January 10, 2022. Written by: Sandy Dodge.


 

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We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative, and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2022, Windermere Real Estate/Mercer Island.

 

Tips, Trends & Living February 11, 2022

2022 Home Trends

Hello 2022! Life in the new normal goes on, and with it continues a trend toward all things natural and nostalgic. We’re still seeing the Scandinavian concept of “hygge” live on in warm accents and cozy textiles, but with a newer emphasis on “perfect imperfection” (known as “wabi-sabi” in traditional Japanese art). Irregular curves, handmade decor, and mismatched kitsch are slowly creeping in on the cleaner lines of minimalism. With it comes an earthier palette and an emphasis on sustainable and reclaimed materials…

 

#1: Biophilic is the Buzz Word


What started with a houseplant trend has bloomed into a full-blown biophilic craze–borrowing from a design concept centered around bringing the outdoors in
. Now plants are going beyond the pot into integrated indoor gardens, floral ceilings, greenery-inspired motifs, and plant-focused decor/furniture all designed to create a visual connection with nature. We’re also seeing a focus on natural lighting and fresh air, with folding window walls and alfresco living spaces increasing in prominence.

Looking for a houseplant refresh? Try a sansevieria (a.k.a. Snake Plant)–not only is it easier to care for than last year’s fiddle leaf fig, a NASA Clean Air Study found that it’s capable of removing pollutants such as formaldehyde, xylene, and toluene from the air in addition to CO2.


 

#2: Curves Ahead...and Overhead

 

Another extension of the nature trend, organic curves are gradually usurping the sharper geometric shapes of recent years. From curvy, retro furniture to barrel-vaulted ceilings and archways, design is taking a softer turn. A recent Pinterest report also showed trending searches for curved walls, bars, and kitchen islands.


 

#3: Down to Earth Colors & Textures


Shades of green and warm neutrals are the “it” home colors for 2022, shifting a bit away from cooler whites and steel greys. Rich earth tones such as camel and terracotta are cropping up as accent colors to promote that cozy, hygge vibe. Nature-inspired blue also remains in the palette.
We’re seeing a continued turn toward earthier gold and bronze metal hardware (in addition to contrasting black).

Layers of texture follow the earthy trend—look for natural linen and bouclé textiles, along with a mix of wood, leather, metal, and stone for furniture and accessories. Textured walls are also trending with faux plaster and limewash paint on the rise.


 

#4: Flexible Open Spaces + Extras


Open floor plans still reign supreme (even post-quarantine), but all that working from home has made us think about how we can make our spaces more adaptable.
Pocket doors, decorative screens, and kitchen islands are being seen as a way to create some division without permanently disrupting flow or line of sight.

Multi-functional furniture and rooms are also increasingly popular. Whether it’s a desk placed behind the living room couch, an ottoman with a pull-out desktop, or an integrated nook, the concept of “entangled” spaces without clear use delineations is something many people are embracing.

As an add-on to flowing public spaces, private “emotional escape rooms” are one of Pinterest’s predicted trends for 2022. Tiny library rooms, music-themed rooms, and massage rooms are all trending in searches. Home theaters are making a comeback after previously being eschewed for taking up too much space. Yoga studios and intimate lounges are also appearing more frequently on architectural wish-lists.


 

#5: Thoughtfully Curated Character

 

As supply issues have limited the supply of new furniture and decor, consumers are turning to high-quality vintage and flea market finds for a trendy, sustainable alternative. People are also infusing their personality into a more “maximalist” design concept with gallery walls full of favorite art/photos, richly patterned rugs, antique statement pieces, and favorite objects (such as guitars) incorporated into their decor.

Consumers are also putting more thought into the ethics of what they buy and where they buy it—especially as younger eco-friendly generations begin to purchase and remodel homes. Sustainable materials and energy-efficient products are in higher demand than ever. Reclaimed, locally sourced, and responsibly made furnishings are also trending in popularity.


 

Need an easy refresh? Try adding throw pillows, blankets or artwork in hues from Pantone’s Spring/Summer 2022 color palette. For paint inspiration, check out the latest trends on Sherwin-Williams’ blog.

 


 

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We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative, and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2022, Windermere Real Estate/Mercer Island.

Real EstateTips, Trends & Living September 14, 2021

Protect Your Investment: 5 Fall Maintenance To-Do’s

Benjamin Franklin once wrote, “An ounce of prevention is worth a pound of cure.” While he was talking about fire safety, I think it applies equally well to home maintenance. One weekend of prevention this fall can save you many headaches (and a lot of money) down the road. Here are a few ideas to get you started:

 

1. Gutters, top to bottom

Water in the wrong spots can do a lot of damage. Start by ensuring that gutters and downspouts are doing their job. (You may want to hire a professional, especially if you have a two-story house with a steep roof.) If your home is surrounded by deciduous trees you may need to clean out your gutters a few times a year, especially in the fall. Check to make sure your gutters are flush with the roof and attached securely, repairing any areas that sag or where the water collects and overflows. Clean out the gutters and downspouts, checking that outlet strainers are in good shape, and are firmly in place. Finally, check that your downspouts direct water away from your house, not straight along the foundation.

 


2. Check for leaks

The best opportunity to catch leaks is the first heavy rain after a long dry spell. Check the underside of the roof, looking for moisture on joints or insulation. Mark any spots that you find and then hire a roofing specialist to repair these leaks. If you wait until spots show up on your ceiling, insulation and sheet rock will have also been damaged and you could have a mold problem too. You can find tips on how to solve roof & gutter issues in this great article from http://FamilyHandyman.com.

Don’t forget the basement and the caulking around windows & doors. Check your foundation for cracks, erosion and gaps in window and door weathering. Make sure to properly seal any leaks while the weather is nice. This will ensure materials dry properly.

 


3. Prevent pests

Rodents are determined and opportunistic, and they can do tremendous amounts of property damage (and endanger your family’s health). As temperatures cool, take measures to prevent roof rats and other critters from moving in. Branches that touch your house and overhang your roof are convenient on-ramps for invaders, so trim back branches so they’re at least four feet from the house. If you have a chimney, make sure it has a protective cap. Walk around your home and take a look at the siding and roof soffits—replace any damaged panels, caulk gaps, and fill or screen any holes where critters might gain access.

If you do hear scuttling overhead or discover rodent droppings in your attic, crawl space or basement, take immediate action. The website http://www.thisoldhouse.com has several helpful articles on the topic.

 


4. Maintain your heating and cooling systems

Preventative maintenance is especially crucial for your home’s heating and air-conditioning systems. Fall is a smart time to have your systems checked and tuned up if necessary. Don’t wait for extreme temperatures to arrive, when service companies are slammed with emergency calls. Between tune-ups, keeps your system performing optimally by cleaning and/or replacing air filters as needed.

If you have a wood-burning fireplace, a professional inspection and cleaning will help prevent potentially lethal chimney fires and carbon monoxide poisoning. Even if you don’t use your fireplace often, it’s a good idea to keep a supply of dry firewood or sawdust-composite logs so you have a backup heat source in an emergency. Gas fireplaces should be serviced about every 2 years to lengthen their lifespans.

 


5. Insulate & seal

Insulating your home is a cost-efficient investment, whether you’re trying to keep the interior warm in the winter or cool in the summer. Aside from more major improvements like energy-efficient windows and insulation, there are some quick fixes that do-it-yourselfers can tackle. If an exterior door doesn’t have a snug seal when closed, replace the weather stripping; self-adhesive foam stripping is much simpler to install than traditional vinyl stripping. If there is a gap under the door (which can happen over time as a house settles), you may need to realign the door and replace the vinyl door bottom and/or door sweep. Air also sneaks inside through electrical outlets and light switches on exterior walls. Dye-cut foam outlet seals placed behind the wall plates are a quick and inexpensive solution.

 


 

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We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative, and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

© Copyright 2021 Windermere Mercer Island

Tips, Trends & Living March 10, 2021

The Four Phases of Remodeling

As with anything in life, a remodeling project can come with its ups and downs. Certain phases seem to go a mile a minute, while others feel like they’ve lasted a lifetime and a half, all while it looks as though nothing is being completed. Fear not—this is pretty typical. And, while every project is different, a good portion of renovations have four major phases, what I’m calling the Honeymoon, the Midproject Crisis, the Renewal of Vows and the Happily Ever After…

 

Phase 1: The Honeymoon Stage

 

After weeks of searching for a remodeler in your area, calling references and working toward an agreeable price, you say, “I do,” sign the contract, finalize the design and begin work in two weeks. There’s a little nervousness in the air, but as you enter the Honeymoon phase, the mood is mainly one of excitement.

 

Demolition Begins

Normally one of the quickest moving stages of a remodel, demolition makes it look as if a lot of work is being done practically overnight. Cabinetry is removed, walls are torn down, appliances are taken away and, in a matter of days or weeks (depending on the size of your project), you’re staring at a blank canvas.

After that, any necessary framing and structural work will begin. Framing usually isn’t as exciting or fast-paced as demolition, but still, there is visible progress almost daily. At this point, you and your partner are walking on air. The rate of work is astounding, and you’re still very excited (although maybe a little less nervous now) about the entire project.

 

Speed Bumps Ahead!

Like a delayed flight on a real honeymoon trip, there are obstacles that can slow down this phase, specifically during demo:

  • Discovery of toxic materials like lead or asbestos
  • Building permit delays
  • Unexpected structural elements (like pipes) revealed during demolition

Don’t panic. These delays happen often, and it’s worth accounting for and accepting these hurdles before you even begin to think about renovating.

 

Rolling With the Punches

Here are a few tips to help your honeymoon run more smoothly:

  • Embrace change. Really. Give change a huge hug. Get to know it on a personal level. Because no matter what room you’re touching (whether it’s the kitchen or a teensy guest bath), it’s likely that you use that room daily. The sooner you accept that this room (major or not) will be unavailable for a period of time, the sooner you’ll be able to adapt your daily routines to fit around it.
  • Love your microwave. This applies to kitchen remodels specifically. As soon as demo is done, your primary cooking and eating area will be gone. Before your project starts, find an untouched room in your home to create a mini kitchen that will include necessities such as a microwave, toaster oven and coffee pot. Think of it as the mini kitchen you had in your dorm or apartment in college and revel in the nostalgia.
  • Don’t worry too much. I know this sounds hard—OK, really hard, especially for control freaks like me—but trusting your building professionals to know what they’re doing (even if you do come across one of the aforementioned speed bumps) will really help you keep your head on straight. And if you do have questions or concerns…
  • Communicate! I cannot stress it enough. Talk with your contractor, talk with your
    significant other—talk, talk, talk. Ask questions, bring up budgetary concerns, muse over paint colors. Whatever is on your mind, getting it out of your head and into the air is beneficial for everyone involved (especially you).

 


Phase 2: The Midproject Crisis

 

Similar to a Midlife Crisis, the Midproject Crisis is full of sobering questions: What’s my contractor doing? Are we still moving forward as planned? Was this really all worth it? And of course: What is the meaning of life? Fear not: Progress is still occurring, even if it’s not as obvious as demolition was.

Typically, once demolition and framing is finished (the Honeymoon Phase) and before sheetrock is put up, mechanicals will begin. (This probably is referred to as “mechanical rough-in” or “mechanical rough” by your contractor.) Mechanicals refer to the guts of the house: electrical; plumbing; and heating, venting and air conditioning (HVAC). Like our own guts, most of the work done during mechanicals occurs behind the scenes:

  • Electrical: The groundwork for all new light fixtures, outlets, switches and appliances will be done during this phase. New wiring will be run in the walls and ceilings, electrical boxes will be installed for future fixtures, and electrical panels may be upgraded so they can handle heavier loads (this is especially prevalent in remodels where appliances are added). At this point, electricians are making sure that everything that will need power will have access to it and meet your municipality’s building code.
  • Plumbing: As with electrical, plumbing rough-in ensures that all plumbing fixtures, appliances and other water features will be supplied with water, gas (if your house uses natural gas) or both. So pipes may be moved or installed in new places, shower pans (the things that make sure the water stays in the shower) are installed and inspected, and gas lines may be moved, extended or even put in.
  • HVAC: Unlike electrical and plumbing, HVAC is the only mechanical where nearly all the work is completed during the rough-in stage. Pathways for new vents (for bath exhaust fans or kitchen vent hoods) are determined and vents are installed, air conditioning units may be replaced, and air return vents are located in appropriate positions.

More Bumps

It’s around this time that I’ve often seen homeowners concerned about progress. Yes, plumbers are there, but where are the new sinks? Why isn’t there a single light fixture installed yet? Is the HVAC guy even working, or is he just taking a nap in the attic?

The other contributing factor to the crisis is the fact that any speed bumps that crop up during this phase take a bit more time to resolve. Overall, the placement of existing framing is the biggest obstacle in mechanical rough-ins.

Another obstacle is the condition of existing mechanicals. Any wiring, plumbing or venting that is found to be damaged, dangerous or just not up to par with your municipality’s building code will likely need to be remedied.

If your job is permitted, inspections for mechanicals will occur during this stage. City building inspectors are well known for being thorough. If you don’t have everything just right (which ultimately is good, because they’re looking out for your safety), they will not hesitate to make your contractor fix the issue before any work can continue.

Communication is key to getting through the Midproject Crisis. I know it may be tempting to ask for advice from neighbors and friends, but in the end, the person with the most knowledge about your project is your building professional. See if you can get on your contractor’s schedule for a recurring biweekly meeting. It will help make the Midproject Crisis less of a crisis and more of an extended honeymoon.

 


Phase 3: The Renewal of Vows

 

Yay, you’re halfway there! After weeks (or months) of being in a state of disarray, everything you’d hoped and dreamed about is coming true and you’re feeling ready to say “I do” to your contractor all over again. This is what your contractor will probably refer to this as the “finish out” or “trim out” phase—finishing and beautifying what was started in the first couple of months. Here’s what happens:

  • Sheetrock. Holes made during rough-in will be patched, new Sheetrock will be put up at any new walls or ceilings, and texture will be applied to make your walls look like walls again.
  • Trim carpentry. There are a few different types of trim that may be installed at this phase: baseboard (which runs along the joint where the bottom of a wall meets the floor), door and window casing (which is installed around the perimeters of doors and windows) and crown molding (which is run along the joint where the top of a wall meets the ceiling). Trim is purely optional — some more contemporary designs forgo it entirely — but it is meant to create a finished, unified look.
  • Cabinetry. The installation of cabinetry is usually around the time when I see a little glimmer come back into a homeowner’s eyes. This is when the kitchen starts looking more like a kitchen, but it’s also when you can visualize how your other storage pieces, such as built-ins and bathroom cabinets, will change the function of your home.
  • Electrical and plumbing trim. This is the other big “wow” that comes with the finish-out phase. A master bathroom can start to look completed when tile and cabinetry is installed, but throw in a freestanding tub and a shower full of rain heads, handheld fixtures and a steam unit, and suddenly you’re not looking at a mostly done, unidentifiable space—you’re looking at your master bathroom. The same goes for electrical items like decorative light fixtures or appliances. Seeing new stainless steel (or whatever your preferred finish is) appliances being brought into and installed in your kitchen make most people go starry-eyed and drool a little. No judgment here—I’ve done the same.
  • HVAC trim. I mentioned in the last installment that most HVAC work is done during the rough-in stage, so what is left? Essentially, all that needs to be done is the installation of vent covers and thermostats and maybe a little tweaking of the air-conditioning system. Nothing too exciting, but it should be noted nonetheless.
  • Miscellaneous. Like I said, there is a lot that can be going on during the trim-out stage. Flooring—such as carpet, wood, tile or laminate—will be installed. (Flooring installers are known for insisting that they be the absolute last people to work on a house). Tile will go up in showers and as backsplashes. Countertops will go in. Priming and painting of walls, ceilings, trim and cabinetry will be completed. A little landscaping may even be done.

I’ve harped repeatedly about how communication is key, and this still rings true during the Renewal of Vows stage. But patience is also important.

As you see new things being carried in and installed, it can be so tempting to begin moving back into your new space or using your new kitchen. But your contractor may still need some time and space to work.

There are last-minute items that will ultimately guarantee your satisfaction that need to be taken care of before you and your family can begin enjoying your new remodel. So hang in there, and your patience will be rewarded.

 


Phase 4: Happily Ever After

 

During this Happily Ever After stage, finally, the work is done! At last, there are no more nail guns and saws and vacuums making noise in your house. After months of destruction and disarray, it’s time to move back in and enjoy your home, sweet home, for the rest of your days (or at least until you sell it or remodel again). And though most of this phase is just you at last having the chance to enjoy the fruit of your general contractor’s labor, there are a few odds and ends that your contractor will be taking care of to make sure your Happily Ever After really lasts forever:

  • Cleaning. This probably will happen before you move back into your home (or at least it should). Since day one of demolition, dust and debris have been thrown into the air and, much to your contractor’s chagrin, have crept into other places in the house that weren’t touched in the remodel. Now’s the time to do an all-inclusive clean. No, the cleaners won’t do your laundry for you, but they’ll do just about everything else, from polishing the floors to dusting the ceiling fans. The end-of-project clean is like a cleansing spa day for your home.
  • Final walk-through. The last walk-through ensures that you are completely satisfied with everything—and I mean everything—in your home. This is where you will have the chance to sit down and bring up all the odds and ends that you feel need to be addressed. This can be anything from “this faucet isn’t on straight” to “there’s a scratch on the new fridge” to “my shower isn’t draining correctly.” Contractors may vary on when they hold a final walk-through, but in my experience, it’s scheduled after the homeowners move back in and have a chance to use the new space. Your contractor should’ve caught just about everything during his or her own informal walk-throughs throughout the remodel, but sometimes there are items that just don’t come to the surface until a house is lived in.
  • Warranty begins. Most builders and remodelers have a warranty for their projects. The length and amount of coverage can vary, of course, but what remains constant is the promise to stand behind their work for any unforeseen circumstances that arise and need addressing. (Side note: If you’re looking at contractors right now, ask them about their warranty. This can be very telling of how they conduct their business. The more that contractors are willing to warrant their work—or the longer the warranty—the more effort they will put into getting the job done right the first time.) For some contractors, the warranty formally begins after the final walk-through is hosted and the last payment is received. After that, some will stand behind any light fixtures that fizzle, appliances that break, tiles that come loose—you name it. In an ideal world, everything would work right the first time, and it would work right forever. In our world, however, there are bad manufacturing batches and recalls and oversights that may need to be taken care of. Fear not. If you have selected the right remodeler, these issues will be handled.

What else is involved in the Happily Ever After? Absolutely nothing. Take a deep breath in, let it out, look around your new place and smile, knowing that it’s all yours, to have and to hold from this day forward, for better, for worse, for richer, for poorer, in sickness and in health, to love and to cherish till death do you part. You get the picture.

 


©2021 Windermere Real Estate / Mercer Island. Adapted from an article series originally published on Windermere.com.