Swimming Pools: Improve Your Real Estate Value

Summer is here and the temperatures are soaring everywhere.  During the dog days of summer, there is nothing more refreshing than taking a dip in your own in-ground pool.  An in-ground pool not only adds value to your real estate, a swimming pool provides year-round entertainment and enjoyment for your family.

Whether you are purchasing a new home with an existing pool, or are thinking of adding a pool to your current property, it pays to research the types of in-ground swimming pools and their cost, as well as the benefits and drawbacks of each.  Also, don't forget to check with your insurance company to see what adding a pool to your property will do to your homeowner's insurance.

Concrete inground swimming pools works well in virtually any climate.  While in-ground concrete pools are less expensive and easier to install in the South, where the climate is mild and the water table is low, concrete also works well in Northern climates.  Proper maintenance will ensure the longevity of your concrete swimming pool no matter where you live.

If you are considering a concrete pool for your existing home, know that the installation process can require some patience.  The process can take three to four weeks, depending on ground and weather conditions, since concrete in-ground pools must be installed in several phases.  In the southern states, installation is easier due to the ground make-up (mostly sand), and the lower water table.

Pricing your pool:

Most people are aware that a new in-ground pool can cost more than a new car, but don't forget to consider all of the benefits of pool ownership.  Installing an in-ground pool, whether in an existing or pre-construction home, instantly boosts the value of your home.  You receive a very good return on your initial investment, something that can't be said about a new car, and you get to cool off and enjoy your own pool whenever you like.

An in-ground concrete pool will also last a lot longer than a new car, and will provide far more enjoyment in the long term for your family.

Purchasing an existing or pre-construction home with a pool, or installing a new in-ground pool on your current real estate, is more economically feasible than you may think.  Many new-home builders offer buyers pre-construction packages that include a new pool.  This can be an item of negotiation when purchasing your new home, and you may be surprised at the number of perks that home builders are willing to offer their buyers these days, especially if you purchase your home during the area's off-season.

Home Improvements That Won't Break the Bank

If your house is in need of a makeover, but remodeling is beyond your reach, try these four simple fixes:

Touch-up exteriors

Repainting the trim and front door of your house can significantly boost its curb appeal.  This kind of retouching work is easy on the budget and can be done in just a couple of hours.

Replace your floors

The widespread availability of affordable "floating floors" (flooring options that can be installed on top of existing boards or linoleum) makes updating the floors in your rec room or pantry a cinch.

Update your hardware

Switching out old light fixtures and faucets is a simple, affordable way to modernize your home.  While you're at it, equip your house with fixtures that support halogen light bulbs to save money on your electricity bill.

Transform your yard

Landscaping doesn't have to break the bank.  Replacing overgrown shrubs and bushes and adding some flowers for color is an economical way to add value to your home.

Many home repairs can be easily mastered by determined do-it-yourselfers, but there are still some things best left to the experts.  If you need to re-floor your entire house, contact a flooring service, and call in the electricians whenever you're dealing with circuit boards or wiring in the walls.

Home Renovations:  Think Smart

The thought of renovating your home to improve the price it will bring on the real estate market is an appealing one.  The question any home owners should be asking themselves is "what does my home NEED in order to obtain a higher selling price?"  Many home owners overlook obvious things their home needs in favor of cosmetic fixes or upgrades that magazines and TV say will increase their asking price.  The thing they forget is, without the basics the home will not impress people on a base level.  Sure it may have some impressive features but without the daily necessities, what's the point?

Before you start adding un-necessary extras to a home, take the time to make sure the everyday things are taken care of.  These can be simple things like working fixtures and faucets, updated appliances and clean floors.  The interior workings of the home should be checked and fixed if they are in need of repair.  There isn't much sense in a home having a brand new solarium and hot tub if the plumbing system is in disrepair and there is mold growing in and around the pipes.

Every homeowner should go over their home with a fine tooth comb and find those little everyday things needing an upgrade or a fix before jumping into major renovations.  You may find yourself making renovations only to have to go back at the end to repair something that should have been fixed before the building started.

Once the home is in tip-top condition and everything works as it should, then its time to consider making those price generating improvements.  Buyers will feel much better looking at a home with an updated electrical system, a current plumbing system and a new roof than a home with a few nifty extras and a host of possible problems.

Making Room for Parents

The emotional and financial advantages of opening your home to a parent can be great. You won't have to stress about whether they are taking proper care of themselves - you'll be able to see for yourself and help as needed. And if your mom or dad becomes frail or chronically ill, neither one of you will have to pay the $30,000 or so a year that the average assisted-living facility costs.

The preparation steps range from minor remodeling projects (such as installing handrails or brighter lighting) to major renovations (like building a separate apartment), with costs from a few hundred dollars to much more than a hundred thousand.

If done right, these changes can even help, or at least not harm, your home's value. And there's a bonus: You'll end up with a space that not only is comfortable for your mom or dad now but may also make it possible for you to continue living independently in your home as you age.

First, figure out what you'll need.  Then, decide how you'll pay for the renovation.  If the renovation costs seem shocking, bear in mind that there may be resources available to help you pay.  You may be able to use the proceeds from the sale of your parents' current home to finance a remodel.  Whatever you do, don't use the funds from your retirement stash.  Take care of your own finances first, so your kids won't be picking up the tab for you someday.

Put a premium on safety. Falls are the No. 1 cause of injury among the elderly, and most of them occur in the bathroom.  The best solution is to spend $50 to $300 to install grab bars in the bath and shower.  Check that the label says they meet the Americans with Disabilities Act guidelines for safety.

Use adhesive safety strips on the bottom of the tub or shower floor instead of plastic mats, which can slide easily, and use nylon mats with nonskid backing on the floors.

Poorly lit hallways are another danger area, so spend $250 to have an electrician install a light at each end of any hallway that runs 15 feet or more. You'll also want to get rid of throw rugs and replace plush wall-to-wall carpeting, which can become a tripping hazard, with flat and tightly woven material.

Eliminate entryway barriers.  At the very least, you'll need to get rid of steps and curbs that can be especially troublesome in winter weather.  You'll pay $1,500 each to make doorways wide enough to fit a wheelchair or walker.  Look into installing doors with swing-clear hinges, which cost about $75 and can add an extra inch or two of space.

Consider the comfort factor.  Under-the-cabinet kitchen lighting is a godsend for aging eyes.  Custom jobs can run in the hundreds, but stick-on lamps that plug into an outlet sell for as little as $50.

You can install lever door handles, which are easier for arthritis-riddled hands to use than traditional doorknobs, for about $20 to $30 each.  In the end, knowing your parent is safe under your roof can be worth the extra cost and aggravation of revamping your home.

Fix-ups That Can Speed Your Home Sale

You don't have to spend a fortune renovating your house to ensure a quick sale at the best price. Some of the most effective fix-ups are also the cheapest.

Spending just $400 to $500 on fresh landscaping, for example, can boost your home's value by $1,600 to $1,800, according to a survey of real estate agents conducted by HomeGain, an Internet real estate service. Spend another $300 on cleaning and de-cluttering your home, the survey found, and you could add another $2,000 or more to the sale price.

To pinpoint the projects that make the most sense, start by touring your property with fresh eyes, as if you were a prospective buyer. Drive or walk up to your house and see how it appears from the street. Walk through the front door and take a look around. You might ask a trusted friend to help you spot problems, clutter and weird smells that you've long since stopped noticing. Keep a pen and pad handy to list the projects that need to be done.

Here are some more tips to watch for and think about…