SOUND OFF: John Bates Interviewed in The Greenwich Time 2/6/15

From the SOUND OFF column in the Greenwich Time, February 6th, 2015 

Q: What renovations would not increase the value of a home for sale? 

A: When considering undergoing a home renovation, it is important to weigh many factors that will determine the return on investment. 
Is the intention of the renovation to sell in the near future, or does the owner plan on staying in the home for years? If an owner’s aim is to sell in the near future, it is important to consider the current trends in the market. Making personal choices that are not in style with these trends may be a costly mistake. If the owner’s outlook is to stay for a long period after the renovation, then using timeless finishes is best. Today’s style may no longer be acceptable to the market when it’s time to sell. Choices on finishes such as flooring, tile, countertops and light fixtures influence a buyer’s perception of value. 
Cutting corners, or trying to save money in the wrong places, can also be a costly mistake when doing a renovation. For example, buying cheap tile and having it turn color when it is exposed to the wet thinset used when applied to the wall or floor can hurt. 
Keeping up with technology is also a factor. In today’s world of Bluetooth and wireless electronics, it may not pay to have the house hard-wired for a sound system or security cameras. Lighting and thermostats can now be controlled remotely from a smartphone. 
Lastly, specialty renovations are also a subject of concern. For instance, elaborate wine cellars are an expense that the next homeowner may not be interested in. I previewed a home today that had a 2,000-bottle climate-controlled wine cellar that the next buyer replaced with a sound studio for band practice. Put simply, be aware of the “personal touch” choices when renovating a home. 
A closing thought: It is important not to be the most expensive house in the neighborhood because the value of a home is dependent on the market, therefore, the cost of the renovation should not exceed the value of the home. 

See link to original article here

Residential Greenwich Home Renovation Projects

The Three Keys to Success for Greenwich Home Renovation Projects

Flashback to 1974 listening to my mother negotiate a residential real estate deal on the orange rotary dial phone with the long curly cord while sitting at the Formica counter top with the linoleum floor and bright multi-colored floral wall paper. All of these finishes were in style at the time. Today, we see honed marble counter tops, wood floors, professional grade stainless steel appliances, and trendy  light grey toned wall colors.

Having extensive experience in renovating homes I can help clients make material choices as to the finishes that will add value to an eventual sale. For example, in my 15+ year career, Subway tile in the bathroom has never gone out of style.

I grew up in Cos Cob and watched my father expand our home over the years. I can still smell the pine from the construction materials. I renovated my first home in Cos Cob and sold it to move to another renovation and expansion project in Old Greenwich. This property attracted three full price offers when listed over the Thanksgiving holiday! Currently, I Iive on a mid country cul-de-sac and have almost completed the renovation of our classic New England colonial.

When I am looking at homes I generally seek out criteria that will provide a strong understanding of the condition of the home.

• Item 1: It is important to understand how the house is constructed. The furniture and decorating goes away as the seller will take it with them so concentrate on what you are purchasing which is the structure. Ceiling heights are obvious but is the sheet rock ¼ inch or ½ inch? Are the doors solid wood, Masonite, or hollow core?
• Item 2: I always go into the basement where many important features are exposed. Is the foundation poured concrete, block or stone? Each is different and one is better than the others. How about the plumbing? Is it copper piping, Appex, or brass? Depending on the era of the home there could be signs of Asbestos which needs to be removed. A sump pump and curtain drain system may be used to keep the basement dry. Is the system equipped with a battery back up in case of a power outage or is it hooked up to a generator?
• Item 3: How about the roof material, is it asphalt 30 year architectural shingle or is it wood. If its wood is it constructed on lath or on ply wood? If on plywood, did they use cedar breather to allow the wood shingles to breath and prolong the life of the roof?

Patio’s too. Are the stones laid in stone dust which may not last as long as cement?

I have a passion for finding my clients the right home for their needs in all parts of town weather it’s a single family home that is new construction, needs a renovation or a tear down. Town homes are popular. I am currently working with buyers and sellers in the down town market place. We represent Milbank Court which is a wonderful in town community of 17 town homes that are freshly renovated offering turn-key living and selling quickly.

Contact me below and I will be glad to discuss with you how to sell or purchase your home successfully.