KITCHENS

When performing home improvements, kitchens typically provide the best return on your investment dollars.

Planning

How will you use your kitchen?

- gathering spot

- cooking

- entertaining

- how many people will need to eat in your kitchen at a time

- how much storage do you need

1. Start with a sheet of graph paper (1 square:1 foot scale)

2. Measure off the size of the kitchen

3. Mark any immoveable objects or objects you don't plan to move (plumbing, doorways, windows,...)

4. Cut out pieces of graph paper for the furniture you plan to put in the kitchen

5. Cut out pieces for cabinet sizes you'd like to try to fit

Workflow

- Leave at least 36" to walk between cabinets, tables and chairs. Prefereably 42" or more
- Work triangle (refrigerator, sink, stove): try to plan for unimpeded flow between these three areas with a total distance of 12-26 feet
- ensure you leave enough room to open appliances and to exchange appliances - leave enough space so appliances aren't blocked in by other things (i.e., islands or walls)

Lighting
Remember that this is a work area. Recessed or pendant lights work well in kitchens. Find out how big the spot of light will be to determine how many lights you will need.

Cabinets
Two main options:
1. Custom - can be very nice, made to YOUR specifications and designs but 1/2 to 2x more expensive than pre-made $$$
2. Pre-made - can be very nice, comes in MANY different woods, finishes, styles and sizes. Get these at most building centers. Get a catalog and begin experimenting with the different sizes on your graph paper $$

Countertops
Lots of options. Some of the more common in approximate order of increasing price:
Laminate - lots of colors and styles to match any decor $
Tile - looks nice but the grout lines can catch crumbs and harbor bacteria $
Corian® - a solid surface material made by Dupont $$$
Concrete - sounds like a wierd option but can be colored and looks very nice $$$
Stainless Steel - modern, somewhat industrial looking. Some may show fingerprints $$$
Quartz - Zodiaq®, Silestone®, $$$$
Granite $$$$

Flooring
Vinyl - has been in use for many, many years. Comes in lots of grades and styles $
Laminate - can look like wood. tile or many other styles. Quite durable $$
Wood - may show dents from dropped cans but gives a nice, rich look $$$
Tile - may chip or crack with dropped cans. Ensure floor is adequately stiffened to prevent flexing and cracking $$$

Most kitchen remodels will cost upwards of $40,000. If you are able to perform much of the work yourself and don't require the most expensive materials, you may be able to get by for MUCH less. If you're going to be in your home for five years or more, think about livability. Make your house your home.

Interest Rate Outlook

Most people's home purchase revolves around how much their payment will be monthly. The payment that you pay heavily revolves around the interest rate that you qualify for at a bank. Most people right now are thinking... "Should I buy now or wait to see if rates go down again to the five percents...."

Mortgage Rate News
Interest rates on 30-year fixed rate mortgages peaked in early July at about 6.8% and have fallen gradually and steadily ever since.

Predicting mortgage interest rates just gets harder and harder as time goes on. In the "olden days" all an expert had to do was predict what everyone else thought the economy would do. How the economy actually performs is meaningless. The anticipation of how the economy was going to perform was the key.
Plus, it helped to know if Alan Greenspan was carrying the fat briefcase or the skinny briefcase to the fed meeting. You were stuck guessing on what would happen.
Now everyone is talking.
"Rates need to go up because inflation is too high."
"Rates will be coming down because the economy is slowing."
What's an "expert" to do?

Movement has been pretty steady, whether it has been on the up side or the down side. There does seem to be some risk of inflation, but lower gas prices and a slowing economy help keep inflation in check, so there isn't much danger.
At the same time, prices may be creeping upward because of the spike in oil prices over the last year. Products made from petroleum products (like plastics) must increase in price, too.

Mortgage rates should stay fairly stable and even though the trend looks like it is heading down, things could move either way -- but slowly.

Either way, there is no time better than the present to purchase a home. Appreciation isn't what it used to be but it is nearly always better than paying rent.

HOME IMPROVEMENTS


So many updates and limited dollars to do them - does this sound familiar?

Prioritize
The first step in maintaining sanity and a budget with home improvements is to take a deep breath and have a drink - red wine, warm milk, a beer, ... it doesn't matter. Just take a step back and relax.
1. Make a list of ALL the improvements on your wish list -- landscaping, painting, wire the family room for speakers, update the kitchen, etc.
2. Separate the list into two sections
- those you can tackle yourself
- projects requiring professional assistance
3. Estimate time requirements and cost for each project -- get assistance if necessary and be realistic!!! It doesn't do you any good to be optimistic and underestimate cost or times.
4. Prioritize. Which projects do you want/need to attack first?
5. Plan. Come up with a timeline for each project on your list or cross them off.

Your First Project
Review your time and cost estimates to ensure they are still accurate.

Hiring contractors
- ask for recommendations from friends and family
- interview contractors and check the Better Business Bureau

Performing the project yourself
- check with your city for required permits. City inspectors will help by ensuring your project meets code
- make a list of major steps and major items to purchase (i.e., ordering countertops)
- many lumberyards or big box home improvement centers have design staff on hand to assist with planning and product selection. Use caution and beware of budget creep... your eyes may be wowed by some of the super-wham-o-dyne products available to dress-up any project.

Plan, plan, plan
- use a conservative estimate for how long you think the project will take
- watch the details. The details may be only 3% of the project but will likely take the most time, attention and cause the most stress

Relax, don't be afraid to ask questions and don't be afraid to make mistakes. Enjoy the process and enjoy the final product!

Choosing the Neighborhood that is right for you….

Neighborhoods have personalities, and finding one that is right for you can be as difficult as finding the perfect home.
People want to feel comfortable in their neighborhoods as well as in their homes. They like to know they'll be welcome and safe from the day they move in -- and for years to come.
So buyers ask: Are the schools good? How long is the commute? Are the streets safe at night?
Here's what to investigate:

Appearance
Drive around. Or, better yet, take a walking tour of the neighborhood. Note the general upkeep. Well-kept, tidy parcels, even in modestly priced neighborhoods, indicate a pride of ownership that upholds property values. Watch for vacant lots. They could be zoned for commercial use, or act as neighborhood dumps.
Crime
Find out how many and what kind of crimes occur. Start at the local police department, which may provide statistics. Check alleys and public buildings for graffiti. Unwelcome artwork could mean gang activity.
Schools
Families with young children often pick a school district before they choose a house. Local schools report how much is spent per child. Ask for test scores, too.
Transportation and Amenities
Time the commute. It's better to know how long, rather than how far, it is to work. How close are trains and buses? What about parks and recreational facilities? Nearby stores can be lifesavers when you run out of milk at dinnertime.
Property Values
Research recent selling prices for houses in the neighborhood and how much houses have increased in value in the past 10 years. Ask how much property taxes have increased.
Utilities
Find out what utility costs are. Call the water, gas, cable and electric companies for rates. Utilities can add a lot to the monthly cost of a house.
Traffic and Noise
Drive around the neighborhood at different times of the day and note the amount of activity. Do you hear loud parties at 1 a.m.? Do cars clog the roads during commuting hours? It's better to know ahead of time whether the neighborhood is a noisy one.
Future Development
Look for new construction in the neighborhood. Rapid growth can be a sign of higher property values -- but also traffic hassles. Read the local newspaper for information about new housing developments, and find out what facilities (schools, roads, etc.) will be built if the area is expanding.