What remodeling can do for your homes listing
Los Angeles and it's immediate surrounding hamlets are chock full of potential opportunity. There is much untapped value in the rows and rows of homes that sit on a vast sea that are these urban neighborhoods. Most homes in these ares sit on their foundations remarkably untouched over time with many decades devoid of any upkeep or remodel. They seem to be slowly fading away into the background or alternatively because of times elements and weather are popping out to the evening stroller and the morning jogger as the neighborhood eyesore.
What is your immediate opinion of this? Should a home sit unabated like this and be left to seemingly rot on it's foundations? Alternatively, should we instead treat our homes as we would, maybe our own wardrobes? With change and dynamic upkeep. Mend the holes that time has mandated by investing in the new and upgraded. Am I steering this read as If I had a personal opinion. You bet I do!
There are dynamic specifics to this idea however, and nothing is exactly the same in my opinion. For instance an arts and crafts home should not be clad in stucco only to hide the original regale of the original wood and its subtle ability to beautifully blend into the fauna behind and around it. For instance, even around the metropolitan areas of the city of Los Angeles there are many rolling hills with a lot of vegetation that remind us that mother nature was here first. So I suppose with an arts and crafts or a bungalow style home these can be aesthetically perfect to blend into the hills there or, like I mentioned before vegetation rich neighborhoods on the flats as well.
These are not the only types of homes around these social dens of humanity. There are also an immeasurable amount of mid century homes and many many of them that saturate our Burroughs thanks to the era that were our grandparents or parents that hearken the dawn of the "baby boomer" generation. This generation created a sprawling ocean of neighborhoods and new construction that has not been surpassed even now. These homes are still here and are referred to as contemporary mid century or not so contemporary mid century. Post and beam mid century homes for instance.
What's my point about these particular homes? There is much potential there. In having some upkeep or remodeling done but possibly changing the entire look and face of these homes all together with additions, new construction, upgrades, remodeling and in a lot of cases properties with well sized lots that have room to include adu's (accessory dwelling units for California for instance). Potential in the sense that any type of investment on your home is considers an upgrade in my opinion because you are extending the life of that part of the home. For instance replacement windows that either look new and bright or windows that have the original look that home had in its inception. Either way an upgrade like that will fix any issues with the home you may be having and give it a beautiful look. New windows on a home make that building pop and stand out in such a positive way.
There are hundreds of other home types that exist I understand. New construction, modern, ranch style homes, New England Colonial style, A-frame and Dutch Colonial to name just a few types. All can stand for some sort of change/upkeep in many cases being brought back to life to extend physical makeup or monetary value of the home.
So, lets talk stats. Where are the measurable comparisons of which you can attach yourself to and make this blog article something you can appreciate? Here it is. If you are a Los Angeles home or property owner then the following is something you want to keep reading about. Do not bounce away from this blog quite yet!
Let's look at one case study for example. And this is just one example of hundreds and hundreds to choose from. One particular mid century house that exists in the Los Feliz district of Los Angeles known for its small rolling hills and exquisite views of downtown L.A. or the Hollywood sign to the west, is on the market and has just had a complete remodel. This remodel was done after it's new owner took possession in 2011. Built in 1947 it was a standard mid-century home for the time. Nothing special about the home itself but the location obviously lends something to the value nowadays but how much really? What's my point? Hold on and read on. Here is a quote from la.curbed.com that summarizes this in a pinch.
"This simple midcentury residence sits on a vegetation-filled lot near the Prospect Studios campus in Los Feliz. Built in 1947, the house has been sleekly remodeled since it last sold in 2011 (for $747,000)."
Like I mentioned the last owner purchased this home acquired it in 2011 for $747,000 having 1,517 square feet. At the time here in Los Angeles in that area the previous owner would have made out well we can see with that sale. Now lets cut to the chase and envision this homes listing now on the MLS with regard to this area. Take into account the size of remodeling that took place. Basically, almost a new construction. Okay, not a new construction but with the amount of work done I would not be surprised if they brought the remodel just short of the foundation and pads.
As you can see the link from above every room has been redone. And one of the main points of interest to this remodel are the brand-new windows and doors I see in almost every photo. (see link above for reference).
Okay, so you can see the listing price now. I am going to assure you that this home will sell even with the real-estate market running flat right now. That's not my point. My point is that with a simple remodel, new floors and replacement windows or doors they are listing this small home for $1, 289,000. That's one million two hundred and eighty nine thousand dollars. It's going to sell.
In summary we know the location itself is of high value but the negative offset is the size of the home with a low square footage amount. Also the fact that this type of home has no collectible or historical value at this time in our existence takes away from the psychology of the listed price. HOWEVER, with a positive mindset to consider we have the new look and new feel of a brand new home with the complete remodel of the house. This is the game changer. What some new windows and doors plus flooring can do for the eye of the beholder. You cannot deny this idea as the longevity and lifespan of the home has been increased by default. Any potential issues with inspection and going back and forth with 'final" has been illuminated. No matter what type of home you home exist in from whatever era it exists from it's time to give your home some love and invest in your own homes longevity and value. Plus your neighbors and the 'passersby ers' will envy you.