DESIGN POINT
RENOVATION ROCK STARS
offer fantastic ROI and are likely to attract more serious buyers (USA Today found that more than half of home buyers stated that they were willing to pay more for hardwood flooring on sight), but they are substantially more expensive than laminate flooring. “My main consideration for flooring in the kitchen is the price point of the home. If you’re dealing with a high- er-end home, you have to go with tile or hardwood for sure,” Tesh observed. How- ever, she added, “Mid- to lower-end homes can do well with a really great vinyl that looks just like tile at about one-third the price.” Similarly, kitchen countertop choice is of vital importance when it comes to rehabbing since investors must balance high-end looks like marble and granite with their bottom line. Tesh has a hard rule about when to replace countertops: “If I change out the cabinets, I always replace the countertop with granite and a tile backsplash. If the budget allows, I select a higher-grade granite for a ‘wow-factor’ when you imme- diately enter the kitchen [see images for examples].” Speaking of cabinets, Tesh looks to comparable sales in the area to make a final decision between replacing and refinishing, and she has some tips for updating old 1: Not every renovation requires wall removal, but many investors opt to do so thanks to the popular- ity of open floor plans. 2 & 3: Granite counters and tile backsplashes create a “Wow!” factor in any kitchen makeover.
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Renovation Rock Stars: Kitchen Edition THINK REALTY LAUNCHES AN EXCITING NEW OPPORTUNITY FOR READERS.
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by Think Realty :: photos by John Tesh
ver watched one of those “reality” real estate shows and thought to yourself, “I could do so much better, for so much less! And why are they hanging that hideous wallpaper in a rental prop- erty anyway?” If so, you’re not alone. In fact, at every Think Realty event, we meet hundreds of real estate investors doing incredible renovations and rehabs fully worthy of a television feature. While Think Realty Magazine does not have its own reality show just yet, we have managed to do something reality-television worthy: E
We’ve settled the great “kitchen vs. bathroom debate” once and for all…or at least until next quarter’s data comes in. Most real estate investors agree that kitchen and bathroom rehabs and make- overs are among the most valuable play- ers in the equation when allotting your renovation dollars. However, the return on investment (ROI) for the two rooms tends to swing back and forth depending on style and design trends, local market, and the cost of various materials. For 2017, both major and minor kitchen remodels beat immediate ROI
for bathroom remodels according to Re- modeling Magazine’s 2017 Cost vs. Value report. Furthermore, kitchen “face-lifts,” which involve painting, refinishing surfaces, and upgrading appliances, often yield higher returns than full redesigns. In a recent renovation (Kitchen 2 in this feature), Corinne Tesh, a profes- sional interior designer as well as full- time real estate investor and co-owner of Citygate homes, elected to use hardwood floors as part of her remodel even though they were more expensive than her other alternatives. Hardwoods
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