Should I Build A Shop?

Dear Dave,

I have been throwing around the idea of building a shop at my house.  I live on about an acre lot and have a fairly new home, built in 2007.  I have room to build a detached shop and also room to add onto my current 2 car garage.

My question for you is, what do you think would make the most sense when I go to sell the house someday?  Do people appreciate a detached shop or would they like it connected to the house?

Thanks for the help -

Robert, Grand Junction

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Robert,

I believe this is an idea that virtually every man throws around from time to time, where can I build a shop?  Building a shop has almost become part of the American dream.  Right behind the dream of a detached shop is a three car garage or three car garage with large storage shed!  As you wander through life accumulating “things” that you probably no longer need, but can’t force yourself to part with the idea of more and more storage becomes increasingly important.

In my opinion, build a detached shop.  The nice thing about a detached shop, over one that is attached, is that what is in or what is happening at the detached shop is less likely to spill over to the main garage and house.  This is a simple function of being “detached”.   A detached shop can be a man’s private kingdom and it is hard to put a price on that.  The fact that a garage or shop is detached from the rest of the house implies that not everyone is invited, there is limited access.  Having a shop that is detached also gives one the opportunity to separate his or herself from the chaos or activities of the main structure and provide a place of solace and privacy where anything goes and being clean are not words that need to be feared!  Having a place that is a safe haven is valuable and for those who are used to having it, it is VERY valuable.  

Go detached and live longer and more prosperous and when you go to sell, enjoy the rewards of having a detached shop!  I am kidding about the longer and more prosperous part, but the rewards will be no joke!  It will, no doubt, be a big selling feature that will have you seeing more green! ($)

Dave Kimbrough

The Kimbrough Team       

What Do You Think About Home Warranties?

Dear Dave,

We are looking to buy a house and have narrowed it down to some of the older neighborhoods and older homes.  One of the houses we looked at included a 1 year home warranty.  We decided that house wasn’t right for us - but we did like the idea of the home warranty.

What do you think of home warranties - are they worth it or not?

Thanks for the help,

Rich and Lydia - Delta, CO

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Rich and Lydia,

How exciting!  It is always so much fun house hunting for that special new home, that’s one reason I love my job so much.   Moving on to your question about warranties…. I have changed my stance on warranties over the past couple years.  I used to think they were not worth the money and I still have some reservations, however recently I have become more informed and now believe they can be a valuable asset to some home purchase.   

They can prove useful on any home that has problems after close, but the real benefit does come with an older home where age has run its course and items like appliances, heating or cooling systems, roofs, hot water heaters are nearing the end of their anticipated lifespan.  It is not unheard of for one or two of these things to fail within a year or two of closing.  If you purchased a home warranty you will love the fact that all you may have to pay is the deductible.  Trust me, nobody wants to move in and have to replace a furnace that fails 3 months after close.   You can often times sign up for them year after year so you can maintain the coverage benefits for several years after you close.   Bottom line, it is nice to have some peace of mind that you will receive some financial help if something fails.  On older homes, they are worth it.

Dave Kimbrough

The Kimbrough Team

Is A Dog Door A Selling Feature Or Should We Remove Before We Sell?

Dear Dave,

We are getting ready to list our home this spring.  We have been getting it all cleaned up and show ready.  We have a dog door that leads from our laundry room out into the backyard.  Our question for you is this – do we leave it or remove it and repair the hole that is left?  Do people not buy a house because there is a dog door or is it a good selling point? 

Help!  Just not sure what to do about this. 

Thanks -

Barbara – Grand Junction, CO 

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Barbara,

Please call me when you decide to sell!  If you are perseverating about a dog door, your home is going to show wonderfully.  I am confident it will show like a dream.  All kidding aside, don’t even concern yourself with such a small item.  Many will find it a value add and if they don’t, offer to have it removed and covered for the new owner.   Trust me, you are ready for the market.  Sit back, take a deep breath and enjoy a few weeks of calm before you hit the market!  Happy selling.

Dave Kimbrough

The Kimbrough Team

If Brass Fixtures Are Out, What's The New Timeless Options??

Dave,

You have stated on multiple occasions that brass fixtures are outdated.  What is the current trend, what will it be next week, next year, or when I I decide to sell in a few years?  What would be a neutral selection for cupboard knobs and other fixtures? Every year it is something different so the industry can sell product.

Nancy -Grand Junction

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Nancy,

Ok… guilty as charged!  You are right, I have mentioned several times over the years that brass is out of style and I will continue to stand by those assertions, however I must admit that brass is making a comeback when people are going after a mid-century modern look.  Keep in mind that the vintage look they are after is not necessarily the look in my grandmother’s bathroom with shag carpet and those sexy chandeliers, but a trendier, updated style with a modern twist!  I also believe that your question pretty much sums up almost every industry that exists… cars, cell phones, televisions, furniture, home fixtures and the list goes on and on.

It is every industry’s job, in fact it is vital to their continued existence, to come up with new and innovative (or even recycle the old) products to keep the consumers consuming!  If we (the public, do not continue to consume and if we no longer change our likes and dislikes, the retail world would literally stop turning and our economy would go right down the drain with it!) Change is the one constant that keeps our economy moving and honestly keeps things interesting.  How boring would it be if we were still watching black and white televisions, driving Model T fords, listening to Big Band Music or wearing 70’s bell-bottoms?  Ok… maybe the bell-bottoms might still be kinda cool and I am sure my parents would love for Big Band music to still be mainstream but, for the most part, it is a good idea that all of these trends rest in peace!

That being said, you can run the gamut from oil rubbed bronze, polished nickel, chrome, brass, rose gold, matte black, or white for your fixture choices, but none guaranteed to be the “in” thing when it comes time to sell.  My recommendation would be to choose what suits your taste best (with the exception of brass) and be prepared to make changes if need be when the time comes to sell.  I think virtually any choice you make can maintain somewhat timeless qualities, depending on what other finishes accompany your fixture choice.   Of all the fixture finish choices, it is my opinion that chrome or brushed nickel have the best opportunity to maintain a timeless quality…..least likely in my opinion would be old school brass or rose gold.  I honestly think the newer black matte finish has a chance to last, especially in a more industrial or contemporary setting.  I would also suggest that once you choose your fixture finish, let that help guide you in choosing your knobs.  I have seen it done several times and if done right you can mix and match your knobs by using all kinds of different styles or stick with a knob that coordinates with your fixture finish.  Fortunately for you, mixing and matching is in these days so go for it!

Regardless of the route you take, I encourage you to take a road that will bring you joy and choose something that you will love and enjoy living with.  If you are going to sell in the next 2-5 years, my bet would be that nothing you choose will be completely “out” of style by then, so the stakes are probably not very high.  Choose what you like the most and when the time comes to sell you can make some minor adjustments if need be.  I hope this helps and I hope you have fun with choosing new fixtures.  It's always fun to spruce up a space with some new fixtures and textures.  Good luck!

Dave Kimbrough

The Kimbrough Team

What's The Deal With "No Money Down" Loans??

Dave,

I occasionally see houses that are advertised as “no money down.”  Isn’t this what got us in trouble, when the housing bubble occurred?   How are they doing $0 down loans again and why would we go back to the same loans that sank the economy back in 2010?  I must admit that I am surprised to see this, as I thought we had learned our lesson, but clearly we might have to learn it the hard way! 

John, Grand Junction 

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John,

Great question and one that I am sure many people have when they see these types of advertisements.  It HAS become more difficult for many buyers to get a loan (at least as compared to 2007), but in my opinion the “firming” up of lending practices was needed and only significantly impacts those who might be labeled as “marginal” buyers.  Lending from 2002-2008 was too lenient, which was a big part of what led to the housing bubble, and now we have returned to much stricter guideline practices, especially for those potential buyers who may be on the fence and not completely credit worthy.  You must have good credit, good payment history, good work history and believe it or not, at least 3 ½ % down for most loans that are not VA (loans through the Veterans Administration) or RD loans (Rural housing and development).  If you meet fulfill these criteria, there are many avenues to lending and purchasing a new home!! 

It is my bet you are seeing homes advertised that are classified as Rural Development eligible.  Rural Development is a loan program that is meant to encourage potential home buyers to consider more rural areas to promote growth in those areas. (i.e. Fruita and East of 32 Road)  Rural development has recently expanded the areas that qualify for these no money down loans and I bet you may have seen signs in one of the areas that is eligible.  Rural Development loans are very desirable to potential buyers because you can purchase in these areas with NO money down. You can get a rundown of the new map from any local lender, as these loans are very popular in our area. 

I would agree with you that, on the surface, loans of this type appeared to be at the root of the housing crisis, but the major difference is, these RD loans are designed to promote growth in designated areas and to promote the growth, buyers are enticed by the zero down option.  Remember, the down payment requirement is less, but the other criteria of good credit, good payment history and good work history are still part of the equation. These loans historically may have a higher default rate, but with the tightening of the overall lending standards I believe these types of loans will now fall in line with more conventional lending options.   

In summary, what led us down the housing crisis and impending disaster was not just the no down payment loans, but no documentation (referred to as no-doc or sub-prime) loans and the adjustable rate mortgages.  The Adjustable rate mortgages were very enticing as the low interest rates in the first 5 years was very attractive, but what many found was they quickly ballooned out of control.  There was a time, not very long ago, that verification of income was not always required to obtain a loan etc...  When you DO NOT have to verify your income to obtain a loan, trouble is, as we found out, just around the corner.  At today’s interest rates, you can bet that lenders are going to remain somewhat cautious, however if interest rates ever go up (above 6%) we might just see some riskier lending practices return.   With interest rates right around 4% virtually any significant risks outweigh the gains.  As interest rates go up, easier money availability will increase, but hopefully only trending towards barrowers who have good credit, good payment history, good work history and some skin ($) in the game.  I am confident we will continue to see that there are some solid checks and balances.  Hope this answers your question. 

Dave Kimbrough,

The Kimbrough Team

Where Should We Spend Our Money to Spruce Up Our Home to Sell For Top Dollar?

Dave,

We will be putting our home on the market this spring/summer.  Our home is an older home, built in 1993 and is looking somewhat dated, but it is in good condition as we have maintained it very well.  Our kitchen and bathrooms are original, but we put in hardwood floors 3 years ago and our yard is wonderful.  We do not have a lot of money, maybe $3,000 - $4,000, to spend on it before we put it on the market, but want to know where we would get the most return for doing some things to bring it up to today’s standards?  Where are the areas or what items deliver the best return?   

Ben and Chelsea, Grand Junction

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Ben and Chelsea,

Your home, built-in 1993, is at the age where you can see some significant dating of the features, but luckily you are beyond the '70s & 80's where you see dated features that are much more expensive to remedy.  There is more good news in your question, your home is in good condition and you have a beautiful yard.  Great curb appeal is hard to replace and if your yard is really wonderful, you will see an increase in showings because you have passed the “curb appeal” test.  Typically buyers get their first exposure to your home by seeing it on the internet and if the pictures look good then the next thing they do is drive by it to get a first-hand look.  The drive-by is where the “curb appeal” test takes place and if it is attractive or has the features they are looking for from the curb, then they are likely to set up a showing.  Sounds like you have a handle on the outside features, let's concentrate on the inside.

More good news, you can make a major difference inside without breaking the bank.  In my mind, the two things to look at first are paint and flooring.  Nothing beats a fresh coat of paint, not only in appearance but also in smell.  Remember, purchasing a home is a process that involves the senses and new paint sure makes things feel fresh and new.  Flooring is also key and it sounds like you made a great call by installing hardwood floors, most buyers see hardwood floors as a desirable upgrade.  If you have carpet in your home, look it over and if is worn out or worse yet, blue or rose-colored look to replace it!!  If you have a nonneutral carpet color, it will cost you showings and generally cost you money, it is just that simple.  It is the rare buyer who loves the navy blue carpet in the living room.  Also note that if your carpet is not in terrible shape, try having it professionally cleaned.  I have seen a professional carpet cleaner work miracles.  Both carpet and paint can deliver a great return.

Another area with great impact at an affordable price is lighting fixtures.  Nothing, except wallpaper, can date a home like light fixtures and you can get some really nice fixtures at an affordable price that can help transform an entire house.  Light fixtures are big impact items are reasonable prices, get rid of the polished brass, it is old school.  Also, look at doorknobs and hinges, as these are also fairly inexpensive touches that will help bring your home up to date.  If your interior doors are flat-panel dark wood doors, replacing them with paint grade doors can make a big difference, especially if you have long hallways.  It is amazing what new doors can do to lighten up a hallway. 

In the kitchen, consider cabinet hardware, a tile backsplash or a new faucet.  A nice tile backsplash can give new life to even the most dated kitchen and does not have to cost a fortune to look great.  In your bathrooms, look at new hardware, new towels, faucets, sinks. (especially if they are not neutral or white in color)

This should give you a good starting point, work your way through the items and decide what features your home needs the most and just go for it.  You do not have to do everything to make a significant impact, but sometimes not doing anything can make a big impact in the wrong way.  You are setting yourself up for success. Merry Christmas everybody! 

Dave Kimbrough

The Kimbrough Team