Posts
People often ask me why they should hire a designer. One of the reason is their resources. A designer may have the greatest ideas but without the proper people to carry them out, the ideas are worthless. Good resources can sometime collaborate with the designer and come up with a better idea to enhance the idea.
I have several great resources. I have one secret weapon in my husband, Mr. Math. He helps me with tile patterns sometimes. I can explain what I want in words and he can draw it in minutes. The math part of him makes him very suited for this in a way that my brain isn't. I can imagine it and see it in my head but takes me hours to put in on paper. But he is a great design assistant and understands what I want.
Another great resource of mine is my stained glass resource. They are true artists and very creative. They are a couple, he is very good at geometric designs, she is very good at abstract designs. They "listen" to the house in a similar way that I do. When I bring them in, I tell them what I want and they are able to produce something truly wonderful.
Window treatments are another key area. I have fantastic workrooms to help. They get the job done quickly, efficiently and correctly.
There are numerous others....but the point is that in every case, I can give them the work, give them instructions and I don't have to worry about it. I know that they will treat my clients well, and that they will do their job well. This makes my job easier and it makes my clients' experience better.
Everyone has had a bad experience or heard of one....a friend just did their kitchen but felt they could be project manager and take care of it themselves. They got all done and oven didn't fit. So now the contractor has to make it work. Not that this couldn't have happened with a designer but your odds go down considerably. First of all, most people do their kitchen once or twice. They aren't aware of the pitfalls. A designer does this all the time and knows what to look out for. Also when you hire a contractor, you hire them once and that's it. The accountability isn't there as much. They may lowball you to get the job and then add more in later, they may use cheaper products or do bad workmanship. Having a designer, they have seen their work, inspected them, and they have a working relationship with the contractor. The contractor gets a great deal of work from the designer and will have a higher level of accountability with them. The best part is that you aren't just pulling someone out of the phonebook, you are getting someone with a track record.
Another way that it helps to have a designer....I had a client have a "design emergency". I had selected all her items for her bedroom but she wanted to do all the work. She had some drapes that needed to be hung and couldn't do it. She was having a party that night and called me, desperate for help. Because of my relationship with my resources, I was able to get someone over there to do the work for her and the party went off without a hitch.
Paying for a designer isn't just a luxury, it's peace of mind. We know how to get things done. We have the people to do it and do it well. We can save you the time of interviewing a bunch of people. Save you the time of answering a bunch of questions and dealing with the project management. Renovation is a big stress, we are here to reduce it in several ways and to ensure that you get the kind of job you want.
Thursday, February 18, 2010
Thursday, February 11, 2010
Change is worth it.
Change - that word has so much power. It can be a very exciting word or it can be the scariest word in the English language. It's easy to stay in what you are used to. But how do you know when it's time to change or what you are supposed to change. Too often people don't change until the pain of staying the same is worse than the pain of taking on something new.
In interior design, I deal with the emotions of change all the time. Sometimes there's apprehension as to how it's going to look, or is it right. Then there's the inevitable mess before it gets pretty and so much money has been spent but there's construction and there can be worry as to if they made the right decisions.
But then it's all done and it's beautiful. You love it! It was worth all the pain and angst.
My life has been full of extremes lately....a couple friends have recently had kids and they made the change from couple to family. Pregnancy and childbirth not much different from what I described above. Birth is painful and messy but then there's this beautiful innocent baby with a whole future in front of it. On the other hand I have been emptying a house for a client. The lady who lives in the house is now in a convalescent home. Her life in this home is gone and a new one has arrived. Finding homes for all her stuff: furniture, pictures, china, silver, vases, treasured pieces of crystal and other accessories. This was somebody's life and then it was over. I had to throw out a wedding dress - that was difficult. I never met the lady but here was a beautiful wedding dress, never preserved, fabric falling apart and yet a sense of sadness when throwing it away. Her husband had died awhile ago but throwing away the dress felt like throwing away a marriage. Diplomas, discharge papers, certificates of achievement, all important at one time and now useless. Years of memories only important to people who no longer exist.
Change - yes, my job is very intimate and full of change and I help you to face the emotions that go along with that. If the emotions of facing the memories are too much for you as in the case above, I can face them for you. Separate the important from the unnecessary. It's hard to face the memories. Sometimes you just need to clean the slate and recreate your life. One of my clients called this coming out of her cocoon. The worm has to fight to get out of the cocoon, but without the fight, it doesn't have the strength to fly.
With the right guide, change can be good, it doesn't have to be scary. Most designers will say they are part psychologist. I even had a client hire me instead of a psychologist. Yes, we do help you face your memories, and whatever demons are keeping you from moving forward. It's amazing what changing your house can do to improve your life. We do help you on many levels. I have helped widows move on, newlyweds create a home that fits BOTH of them, executives create a peaceful haven, created more romantic bedrooms and much much more. Yes, what we do as designers is amazing, not just visually, not just practically. We affect the whole person. I love to see the impact of good design on my clients. They are always pleasantly surprised. I am not, I knew that feeling was coming. For me, it's like the doctor handing the baby to mom for the first time. Welcome to your change, welcome to the next stage of your life. Enjoy.
In interior design, I deal with the emotions of change all the time. Sometimes there's apprehension as to how it's going to look, or is it right. Then there's the inevitable mess before it gets pretty and so much money has been spent but there's construction and there can be worry as to if they made the right decisions.
But then it's all done and it's beautiful. You love it! It was worth all the pain and angst.
My life has been full of extremes lately....a couple friends have recently had kids and they made the change from couple to family. Pregnancy and childbirth not much different from what I described above. Birth is painful and messy but then there's this beautiful innocent baby with a whole future in front of it. On the other hand I have been emptying a house for a client. The lady who lives in the house is now in a convalescent home. Her life in this home is gone and a new one has arrived. Finding homes for all her stuff: furniture, pictures, china, silver, vases, treasured pieces of crystal and other accessories. This was somebody's life and then it was over. I had to throw out a wedding dress - that was difficult. I never met the lady but here was a beautiful wedding dress, never preserved, fabric falling apart and yet a sense of sadness when throwing it away. Her husband had died awhile ago but throwing away the dress felt like throwing away a marriage. Diplomas, discharge papers, certificates of achievement, all important at one time and now useless. Years of memories only important to people who no longer exist.
Change - yes, my job is very intimate and full of change and I help you to face the emotions that go along with that. If the emotions of facing the memories are too much for you as in the case above, I can face them for you. Separate the important from the unnecessary. It's hard to face the memories. Sometimes you just need to clean the slate and recreate your life. One of my clients called this coming out of her cocoon. The worm has to fight to get out of the cocoon, but without the fight, it doesn't have the strength to fly.
With the right guide, change can be good, it doesn't have to be scary. Most designers will say they are part psychologist. I even had a client hire me instead of a psychologist. Yes, we do help you face your memories, and whatever demons are keeping you from moving forward. It's amazing what changing your house can do to improve your life. We do help you on many levels. I have helped widows move on, newlyweds create a home that fits BOTH of them, executives create a peaceful haven, created more romantic bedrooms and much much more. Yes, what we do as designers is amazing, not just visually, not just practically. We affect the whole person. I love to see the impact of good design on my clients. They are always pleasantly surprised. I am not, I knew that feeling was coming. For me, it's like the doctor handing the baby to mom for the first time. Welcome to your change, welcome to the next stage of your life. Enjoy.
Wednesday, February 10, 2010
Awesome article from Money Magazine
6 ways to ensure a remodeling project pays off
money
By Josh Garskof, Money Magazine contributing writer , On Friday February 5, 2010, 7:05 am EST
Just a few years ago you could count on getting the bulk of your money back for almost any home-improvement project you took on. Today merely replacing a toilet seat can feel like throwing caution, and cash, to the wind. According to a study from Remodeling magazine, the average return on value for an upgrade declined from 87% in 2005 to 64% in 2009. But these six new rules will help you maximize your return on your remodeling investment.
Rule No. 1: Repairs get the biggest returns
The smartest money now goes into "undeferring" needed maintenance. That's because while buyers might appreciate enhancements like Jacuzzis and Sub-Zeros, they won't tolerate a house with a leaky roof or antiquated plumbing. "If a property is known to have issues, today's buyers won't even look at it," says Austin real estate appraiser Jim Amorin.
And trying to keep problems a secret can cost you big-time. If buyers discover them during inspection, it's now common practice to ask sellers not only to pick up the tab for the repair but also to pay a penalty to compensate the buyer for the inconvenience of having work done.
So the $20,000 you saved by putting off a roof repair, say, could turn into a $30,000 credit to the buyers at closing, says Amorin.
Rule No. 2: Remodeling beats adding on
McMansions have gone the way of the SUV -- and large additions don't pay off either. "There's been a fundamental shift toward quality over quantity," says Warwick, R.I., real estate agent Ron Phipps.
Having a big, formal living room plus an everyday family room is less desirable than having one multi-use common space. So rather than adding on, you're better off repurposing existing square footage by reconfiguring the floor plan or capturing unused basement or attic space.
Want an eat-in kitchen? Knock down the wall between the kitchen and dining room ($2,000 to $8,000, depending on whether it's load-bearing or contains plumbing). That will instantly create a large eat-in kitchen and give the whole house a more open feel -- without a huge investment to make up at resale.
Rule No. 3: Eco-friendly upgrades can save cash
Some green improvements pay you back long before you sell your house. Install energy-efficient features, such as EnergyStar appliances and extra wall insulation, and you'll see lower energy bills every month.
Add in the federal tax credit of up to $1,500 that lasts through 2010, plus many local rebates and tax incentives (see dsireusa.org), and the work may pay for itself in just five years. Green features are also increasingly a selling point, says Phipps. "Most people in the market right now are first-time homebuyers in their thirties, and they've been raised to care about carbon footprints and being ecofriendly," he says.
The best way to go green is with a while-you're-at-it job: When it's time to replace your furnace, for example, upgrading to super-efficiency might add only $500 (after tax credits), compared with standard new equipment, but it will save you -- and your buyers someday -- $150 or more in annual heating costs.
Rule No. 4: Tech infrastructure trumps cool gadgets
Home electronics seem like a deal, since prices have fallen about 50% over the past three years and continue to drop, according to Stephen Baker, president of industry analysis at NPD Group, a market research firm.
Still, that doesn't change the fundamental problem with expensive built-in technology: Put in a $10,000-plus dedicated home theater today, and something better will come along tomorrow and make your system look as if it's from the Mesozoic Era. With buyers seeking any excuse to low-ball their offers, they're not going to reward you for an out-of-date system.
Tech infrastructure is different, however. Anytime you're opening up walls for a construction project, have cabling and Ethernet ports installed. At about $80 a room, it's a low-cost way to provide the capability for whatever technologies come along.
Rule No. 5: Let the Joneses be your guide
During the boom, you could be the first on your block to have a luxury kitchen, spa bathroom, or in-ground pool and count on others following suit. And even if the neighbors never took your lead, there was plenty of equity growth to cover your costs.
Nowadays that fudge factor is gone. "You really have to keep your house's amenities in line with the neighborhood now," says Kermit Baker, director of the remodeling futures program at Harvard University's Joint Center for Housing Studies.
If other houses on the block have real marble countertops, by all means add one to your house, but if everyone still has faux blue-marble Formica from the '70s, you're not getting your money back.
Also, keep your projects design-neutral so they'll appeal to the greatest number of people. Choose neutral colors and traditional electrical and plumbing fixtures unless your house has a modern architectural style.
Rule No. 6: The new payback time is five years
As with any volatile investment, the longer your time frame, the lower the risk. Don't take on a big project if you're likely to move in less than three to five years. There's just too much chance that any money you put in -- aside from necessary repairs or superficial cosmetic work -- could be lost while the housing market continues to meander.
But if you plan to stay awhile, don't delay starting a project. Home improvements are a bargain right now, with contractors bidding 10%, 20%, even 40% lower for the same work than just a year or two ago, says Bernie Markstein, senior economist for the National Association of Home Builders.
Grab them while they're hungry for work and make it clear that you'll be getting multiple bids so they'll be motivated to undercut one another's prices. You'll fulfill the first rule of investing: Buy low. Then hope that when you're ready to move, you can sell high.
money
By Josh Garskof, Money Magazine contributing writer , On Friday February 5, 2010, 7:05 am EST
Just a few years ago you could count on getting the bulk of your money back for almost any home-improvement project you took on. Today merely replacing a toilet seat can feel like throwing caution, and cash, to the wind. According to a study from Remodeling magazine, the average return on value for an upgrade declined from 87% in 2005 to 64% in 2009. But these six new rules will help you maximize your return on your remodeling investment.
Rule No. 1: Repairs get the biggest returns
The smartest money now goes into "undeferring" needed maintenance. That's because while buyers might appreciate enhancements like Jacuzzis and Sub-Zeros, they won't tolerate a house with a leaky roof or antiquated plumbing. "If a property is known to have issues, today's buyers won't even look at it," says Austin real estate appraiser Jim Amorin.
And trying to keep problems a secret can cost you big-time. If buyers discover them during inspection, it's now common practice to ask sellers not only to pick up the tab for the repair but also to pay a penalty to compensate the buyer for the inconvenience of having work done.
So the $20,000 you saved by putting off a roof repair, say, could turn into a $30,000 credit to the buyers at closing, says Amorin.
Rule No. 2: Remodeling beats adding on
McMansions have gone the way of the SUV -- and large additions don't pay off either. "There's been a fundamental shift toward quality over quantity," says Warwick, R.I., real estate agent Ron Phipps.
Having a big, formal living room plus an everyday family room is less desirable than having one multi-use common space. So rather than adding on, you're better off repurposing existing square footage by reconfiguring the floor plan or capturing unused basement or attic space.
Want an eat-in kitchen? Knock down the wall between the kitchen and dining room ($2,000 to $8,000, depending on whether it's load-bearing or contains plumbing). That will instantly create a large eat-in kitchen and give the whole house a more open feel -- without a huge investment to make up at resale.
Rule No. 3: Eco-friendly upgrades can save cash
Some green improvements pay you back long before you sell your house. Install energy-efficient features, such as EnergyStar appliances and extra wall insulation, and you'll see lower energy bills every month.
Add in the federal tax credit of up to $1,500 that lasts through 2010, plus many local rebates and tax incentives (see dsireusa.org), and the work may pay for itself in just five years. Green features are also increasingly a selling point, says Phipps. "Most people in the market right now are first-time homebuyers in their thirties, and they've been raised to care about carbon footprints and being ecofriendly," he says.
The best way to go green is with a while-you're-at-it job: When it's time to replace your furnace, for example, upgrading to super-efficiency might add only $500 (after tax credits), compared with standard new equipment, but it will save you -- and your buyers someday -- $150 or more in annual heating costs.
Rule No. 4: Tech infrastructure trumps cool gadgets
Home electronics seem like a deal, since prices have fallen about 50% over the past three years and continue to drop, according to Stephen Baker, president of industry analysis at NPD Group, a market research firm.
Still, that doesn't change the fundamental problem with expensive built-in technology: Put in a $10,000-plus dedicated home theater today, and something better will come along tomorrow and make your system look as if it's from the Mesozoic Era. With buyers seeking any excuse to low-ball their offers, they're not going to reward you for an out-of-date system.
Tech infrastructure is different, however. Anytime you're opening up walls for a construction project, have cabling and Ethernet ports installed. At about $80 a room, it's a low-cost way to provide the capability for whatever technologies come along.
Rule No. 5: Let the Joneses be your guide
During the boom, you could be the first on your block to have a luxury kitchen, spa bathroom, or in-ground pool and count on others following suit. And even if the neighbors never took your lead, there was plenty of equity growth to cover your costs.
Nowadays that fudge factor is gone. "You really have to keep your house's amenities in line with the neighborhood now," says Kermit Baker, director of the remodeling futures program at Harvard University's Joint Center for Housing Studies.
If other houses on the block have real marble countertops, by all means add one to your house, but if everyone still has faux blue-marble Formica from the '70s, you're not getting your money back.
Also, keep your projects design-neutral so they'll appeal to the greatest number of people. Choose neutral colors and traditional electrical and plumbing fixtures unless your house has a modern architectural style.
Rule No. 6: The new payback time is five years
As with any volatile investment, the longer your time frame, the lower the risk. Don't take on a big project if you're likely to move in less than three to five years. There's just too much chance that any money you put in -- aside from necessary repairs or superficial cosmetic work -- could be lost while the housing market continues to meander.
But if you plan to stay awhile, don't delay starting a project. Home improvements are a bargain right now, with contractors bidding 10%, 20%, even 40% lower for the same work than just a year or two ago, says Bernie Markstein, senior economist for the National Association of Home Builders.
Grab them while they're hungry for work and make it clear that you'll be getting multiple bids so they'll be motivated to undercut one another's prices. You'll fulfill the first rule of investing: Buy low. Then hope that when you're ready to move, you can sell high.
6 ways to ensure a remodeling project pays off
money
By Josh Garskof, Money Magazine contributing writer , On Friday February 5, 2010, 7:05 am EST
Just a few years ago you could count on getting the bulk of your money back for almost any home-improvement project you took on. Today merely replacing a toilet seat can feel like throwing caution, and cash, to the wind. According to a study from Remodeling magazine, the average return on value for an upgrade declined from 87% in 2005 to 64% in 2009. But these six new rules will help you maximize your return on your remodeling investment.
Rule No. 1: Repairs get the biggest returns
The smartest money now goes into "undeferring" needed maintenance. That's because while buyers might appreciate enhancements like Jacuzzis and Sub-Zeros, they won't tolerate a house with a leaky roof or antiquated plumbing. "If a property is known to have issues, today's buyers won't even look at it," says Austin real estate appraiser Jim Amorin.
And trying to keep problems a secret can cost you big-time. If buyers discover them during inspection, it's now common practice to ask sellers not only to pick up the tab for the repair but also to pay a penalty to compensate the buyer for the inconvenience of having work done.
So the $20,000 you saved by putting off a roof repair, say, could turn into a $30,000 credit to the buyers at closing, says Amorin.
Rule No. 2: Remodeling beats adding on
McMansions have gone the way of the SUV -- and large additions don't pay off either. "There's been a fundamental shift toward quality over quantity," says Warwick, R.I., real estate agent Ron Phipps.
Having a big, formal living room plus an everyday family room is less desirable than having one multi-use common space. So rather than adding on, you're better off repurposing existing square footage by reconfiguring the floor plan or capturing unused basement or attic space.
Want an eat-in kitchen? Knock down the wall between the kitchen and dining room ($2,000 to $8,000, depending on whether it's load-bearing or contains plumbing). That will instantly create a large eat-in kitchen and give the whole house a more open feel -- without a huge investment to make up at resale.
Rule No. 3: Eco-friendly upgrades can save cash
Some green improvements pay you back long before you sell your house. Install energy-efficient features, such as EnergyStar appliances and extra wall insulation, and you'll see lower energy bills every month.
Add in the federal tax credit of up to $1,500 that lasts through 2010, plus many local rebates and tax incentives (see dsireusa.org), and the work may pay for itself in just five years. Green features are also increasingly a selling point, says Phipps. "Most people in the market right now are first-time homebuyers in their thirties, and they've been raised to care about carbon footprints and being ecofriendly," he says.
The best way to go green is with a while-you're-at-it job: When it's time to replace your furnace, for example, upgrading to super-efficiency might add only $500 (after tax credits), compared with standard new equipment, but it will save you -- and your buyers someday -- $150 or more in annual heating costs.
Rule No. 4: Tech infrastructure trumps cool gadgets
Home electronics seem like a deal, since prices have fallen about 50% over the past three years and continue to drop, according to Stephen Baker, president of industry analysis at NPD Group, a market research firm.
Still, that doesn't change the fundamental problem with expensive built-in technology: Put in a $10,000-plus dedicated home theater today, and something better will come along tomorrow and make your system look as if it's from the Mesozoic Era. With buyers seeking any excuse to low-ball their offers, they're not going to reward you for an out-of-date system.
Tech infrastructure is different, however. Anytime you're opening up walls for a construction project, have cabling and Ethernet ports installed. At about $80 a room, it's a low-cost way to provide the capability for whatever technologies come along.
Rule No. 5: Let the Joneses be your guide
During the boom, you could be the first on your block to have a luxury kitchen, spa bathroom, or in-ground pool and count on others following suit. And even if the neighbors never took your lead, there was plenty of equity growth to cover your costs.
Nowadays that fudge factor is gone. "You really have to keep your house's amenities in line with the neighborhood now," says Kermit Baker, director of the remodeling futures program at Harvard University's Joint Center for Housing Studies.
If other houses on the block have real marble countertops, by all means add one to your house, but if everyone still has faux blue-marble Formica from the '70s, you're not getting your money back.
Also, keep your projects design-neutral so they'll appeal to the greatest number of people. Choose neutral colors and traditional electrical and plumbing fixtures unless your house has a modern architectural style.
Rule No. 6: The new payback time is five years
As with any volatile investment, the longer your time frame, the lower the risk. Don't take on a big project if you're likely to move in less than three to five years. There's just too much chance that any money you put in -- aside from necessary repairs or superficial cosmetic work -- could be lost while the housing market continues to meander.
But if you plan to stay awhile, don't delay starting a project. Home improvements are a bargain right now, with contractors bidding 10%, 20%, even 40% lower for the same work than just a year or two ago, says Bernie Markstein, senior economist for the National Association of Home Builders.
Grab them while they're hungry for work and make it clear that you'll be getting multiple bids so they'll be motivated to undercut one another's prices. You'll fulfill the first rule of investing: Buy low. Then hope that when you're ready to move, you can sell high.
money
By Josh Garskof, Money Magazine contributing writer , On Friday February 5, 2010, 7:05 am EST
Just a few years ago you could count on getting the bulk of your money back for almost any home-improvement project you took on. Today merely replacing a toilet seat can feel like throwing caution, and cash, to the wind. According to a study from Remodeling magazine, the average return on value for an upgrade declined from 87% in 2005 to 64% in 2009. But these six new rules will help you maximize your return on your remodeling investment.
Rule No. 1: Repairs get the biggest returns
The smartest money now goes into "undeferring" needed maintenance. That's because while buyers might appreciate enhancements like Jacuzzis and Sub-Zeros, they won't tolerate a house with a leaky roof or antiquated plumbing. "If a property is known to have issues, today's buyers won't even look at it," says Austin real estate appraiser Jim Amorin.
And trying to keep problems a secret can cost you big-time. If buyers discover them during inspection, it's now common practice to ask sellers not only to pick up the tab for the repair but also to pay a penalty to compensate the buyer for the inconvenience of having work done.
So the $20,000 you saved by putting off a roof repair, say, could turn into a $30,000 credit to the buyers at closing, says Amorin.
Rule No. 2: Remodeling beats adding on
McMansions have gone the way of the SUV -- and large additions don't pay off either. "There's been a fundamental shift toward quality over quantity," says Warwick, R.I., real estate agent Ron Phipps.
Having a big, formal living room plus an everyday family room is less desirable than having one multi-use common space. So rather than adding on, you're better off repurposing existing square footage by reconfiguring the floor plan or capturing unused basement or attic space.
Want an eat-in kitchen? Knock down the wall between the kitchen and dining room ($2,000 to $8,000, depending on whether it's load-bearing or contains plumbing). That will instantly create a large eat-in kitchen and give the whole house a more open feel -- without a huge investment to make up at resale.
Rule No. 3: Eco-friendly upgrades can save cash
Some green improvements pay you back long before you sell your house. Install energy-efficient features, such as EnergyStar appliances and extra wall insulation, and you'll see lower energy bills every month.
Add in the federal tax credit of up to $1,500 that lasts through 2010, plus many local rebates and tax incentives (see dsireusa.org), and the work may pay for itself in just five years. Green features are also increasingly a selling point, says Phipps. "Most people in the market right now are first-time homebuyers in their thirties, and they've been raised to care about carbon footprints and being ecofriendly," he says.
The best way to go green is with a while-you're-at-it job: When it's time to replace your furnace, for example, upgrading to super-efficiency might add only $500 (after tax credits), compared with standard new equipment, but it will save you -- and your buyers someday -- $150 or more in annual heating costs.
Rule No. 4: Tech infrastructure trumps cool gadgets
Home electronics seem like a deal, since prices have fallen about 50% over the past three years and continue to drop, according to Stephen Baker, president of industry analysis at NPD Group, a market research firm.
Still, that doesn't change the fundamental problem with expensive built-in technology: Put in a $10,000-plus dedicated home theater today, and something better will come along tomorrow and make your system look as if it's from the Mesozoic Era. With buyers seeking any excuse to low-ball their offers, they're not going to reward you for an out-of-date system.
Tech infrastructure is different, however. Anytime you're opening up walls for a construction project, have cabling and Ethernet ports installed. At about $80 a room, it's a low-cost way to provide the capability for whatever technologies come along.
Rule No. 5: Let the Joneses be your guide
During the boom, you could be the first on your block to have a luxury kitchen, spa bathroom, or in-ground pool and count on others following suit. And even if the neighbors never took your lead, there was plenty of equity growth to cover your costs.
Nowadays that fudge factor is gone. "You really have to keep your house's amenities in line with the neighborhood now," says Kermit Baker, director of the remodeling futures program at Harvard University's Joint Center for Housing Studies.
If other houses on the block have real marble countertops, by all means add one to your house, but if everyone still has faux blue-marble Formica from the '70s, you're not getting your money back.
Also, keep your projects design-neutral so they'll appeal to the greatest number of people. Choose neutral colors and traditional electrical and plumbing fixtures unless your house has a modern architectural style.
Rule No. 6: The new payback time is five years
As with any volatile investment, the longer your time frame, the lower the risk. Don't take on a big project if you're likely to move in less than three to five years. There's just too much chance that any money you put in -- aside from necessary repairs or superficial cosmetic work -- could be lost while the housing market continues to meander.
But if you plan to stay awhile, don't delay starting a project. Home improvements are a bargain right now, with contractors bidding 10%, 20%, even 40% lower for the same work than just a year or two ago, says Bernie Markstein, senior economist for the National Association of Home Builders.
Grab them while they're hungry for work and make it clear that you'll be getting multiple bids so they'll be motivated to undercut one another's prices. You'll fulfill the first rule of investing: Buy low. Then hope that when you're ready to move, you can sell high.
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