Thursday, March 26, 2015

HGTV math

This was the model my parents chose to build in 1961. You will have to embiggen (per Elephant's Child) to see what $30K got you in those days (and my parents added a bunch of extras increasing the price 33%) but some of the state of the art features include Formica. Would NOT be a selling point today. The oak floors in every room except the kitchen, bath and foyer would be a plus but in most rooms, it was covered up with carpet.. The house we are trying to sell also had its oak floors covered only with orange shag carpet.
This is their house in 2005. I sold it as is in a very run down state after my father died in 2004 to flippers. Then the market dropped. It was finally sold just last year
We watch a lot of HGTV which is Canadian based. One can tell that from how they pronounce 'about' (aboot versus abowt here in Michigan just a river crossing away) and talk about en suites, a term we never use to describe 'master bath'. What all the house hunters want? Open concept, stainless steel appliances, granite counter tops, dark hardwood, walk-in closets, back splashes, dual sinks, rain head showers, and recessed lights. What are negatives for houses? Formica, 'defined space' (opposite of open concepts), vinyl floors, paneling (a plus for 60s homes)any bathroom tile that is NOT beige, fiberglass anything, brass anything, popcorn ceilings, space age light features, anything other than wood on kitchen floors, wood trim of any sort and wall paper particularly floral. Josh's first house actually was on House Hunters. That episode featured his sellers tired of the house he bought and them deciding between 3 houses. His house's brief moment of glory, however negative, but Naomi taped over the show with probably her vampire shows. The best show is Property Brothers featuring cute twins, one an expert in real estate, the other in remodeling. Somehow they are able to convert a rundown house into house beautiful in usually just 15% of the purchase price (which is high in Canada though labor to fix up these houses must be low). They run through the math for these renovations. Almost always, they get twice what they put into in return. You are left thinking, well if they double their return, maybe we should keep renovating which is precisely what the advertisers want you to think. I am always cynical.

The more you spend; the more you save.

Here in the real world at the Money Pit, we have to consider everything. There were obvious things we had to do or the house would not sell at all or ever pass inspection. We are now entering the less obvious phase of cosmetics. What does our mythical buyer want and for how cheaply can this be delivered? It makes my head spin. Our painter who lives 45 minutes away prefers 10 hour shifts which Steve is supervising (he is the one so hell bent on moving).

When the work is finished, I will post before and after photos.


Elephant's Child said...

I share your cynicism about the benefits of endlessly renovating.
Here in Oz we talk of en-suites too. And abowt. So we are a mixture of you and Canada.

Sue in Italia/In the Land Of Cancer said...

Canadians are often mistaken for Americans in Europe as our speech differences are so subtle. However Americans have a bad name in some parts of Europe so the Canadians sport a maple leaf to show they are 'the good guys'.


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