| « Choosing From A Store’s Inventory Often Means Settling For Someone Else’s Taste | How To Break An Antique Mirror With Little Or No Effort (And How To Fix It) » |
Your House May Be A Financial Investment, But Your Home Offers Greater Return
Dear Jean and Richard, We are planning to buy a new home, and want to make sure it is a good choice for resale. What interior treatments might ensure its selling appeal? – Isabelle and Oberon, Atlanta
Jean: Wait a minute. Are you already planning to sell it before you even buy it? I know we’re living in the age of disposable everything, but this is your home we’re talking about—assuming you’re planning to live there. If your question is about appealing to the broadest real estate market, I’m afraid you’re asking the wrong people. To me, it’s like asking what kind of clothes I should buy based on what the thrift store might want when I’m through with them.
Richard: Gosh, Jean. I wish you had a stronger opinion on this subject! I suspect these folks are less invested in the design and just want assurance their purchase is safe. Of course, what people thought was a safe housing purchase two years ago may not have the same buyer appeal today. It may be a surprise to younger generations, but there was a time that people actually chose a house to call home, not just to invest their money.
Jean: I trust you’re not implying I’m the older generation. Regardless of demographics, designing a personalized home interior is about lifestyle, not resale. Let’s leave the monthly trends to home builders, whose best interests are to stay “beige” so they can appeal to the largest number of potential buyers. The other day I heard a radio commentator use the phrase “a culture of mediocrity” and I think a lot of people aspire to that.
Richard: I have bought and sold maybe 30 homes in my life. Most people (other than clients) fear me when I am first invited to their home. What they don’t understand is that I can actually like beige. I have a problem with predictable, unoriginal and “off the shelf”.
Jean: People who place a high priority on having a beautiful home are less likely to make it look like everyone else’s. People who choose a house based solely on cost-per-square-foot or what financial gain they MIGHT receive when they sell it are living in their investment portfolios, not in their nest.
Richard: Well, technically they can have it both ways, and I think a lot of homeowners believe they do. But I also think that some people don’t give it a moment’s thought and just assume everyone lives the same way. A good example might be window treatments. Quality ones will usually survive the next buyer and enhance a room’s appeal.
Jean: Here’s the gist. In choosing a house, buy what feels right for you. Chances are, if you like it, a future buyer will like it too. And don’t simply begin replacing everything for the purpose of pleasing some future buyer. Make it your own—give it some personality—add some color and texture. Be creative!
Richard: Collectively, we seem to have forgotten what it means to turn a house into a home, and given the real estate’s recent market adjustments, maybe it’s a good time to remember. While you’re sitting on your nest egg, you may as well feather your nest.