Category Archives: Downsizing

Should I Stay or Should I Go? Renovating vs. Selling

Having trouble deciding whether you should remodel your place and stay put or search out a more suitable pad? Read on for some considerations which should hopefully help you with this decision:

Many of my clients like their house enough, but it’s just not the right one for them. If they could tweak the floor plan, upgrade the kitchen, and build out an extra family room – it would be perfect. Except for the howling dog, the drummer who works practices with his band twice each week, and the constant roar of the El Camino traffic. Or, the neighborhood is perfect, the neighbors periodically bring baked goods – but the half-sized lot won’t allow for the extra bedroom you need and the pool you have always wanted.

Neighborhood is key.

As you always hear, you can change almost anything about a house except for the neighborhood. This is where I always start with clients who aren’t sure. Are you happy where you are, should you have a house more suited to your needs? Are you near a busy street or another nuisance that drives you crazy on a regular basis?

Will you be able to recoup any money invested when it is time to resell?

It’s great that you might want to double your square footage, put in a custom kitchen and that hand-excavated 10,000 bottle wine cellar you have always wanted. But when you go to sell in 10, 20, or (heaven forbid) a job change forces a THREE year plan, will you be able to get out of your home without a decent sized “haircut” to your investment? Look around your neighborhood at what has recently sold. Compare that with how your neighborhood has fared over the years. Do you already have the biggest, most expensive house on the block? If so, you may not want to over-improve your current home beyond the standards set by the neighborhood.

Does renovation make financial sense?

Do you have the cash needed to make the necessary repairs, or are you already maximized on your monthly debt and have no cash reserves to cover any unexpected “bumps” in your proverbial road? Would taking an additional loan put you in an uncomfortable financial position?

Can you endure living through construction?

I probably should have put this at the top of the list because it is where most people will stop reading. Living through construction isn’t fun, it disrupts daily routines, and puts an extra layer of stress upon everybody in the household/construction zone. Renovations can be fun when you’re choosing finishes, but what about when the four month project is going on eight months and you can’t possibly endure anymore take out dinners? I’m not saying all projects go over time and budget, but how would you deal with the situation if it did?

Tally up your responses to these questions and ask others for their input if needed. Only you will have the right answer for your personal situation, but a real estate professional can help with a “before” and “after” valuation to determine if the cost of the improvements/changes to your home would be a wise investment. Your favorite Dreyfus agent would be happy to have a more in-depth conversation with you!

New Central Menlo Listing

1255 Santa Cruz Avenue will be on the market April 26th. This is a completely remodeled 4 bedroom, 3.5 bath single level home with an open floorplan. You will be surprised with all the natural light and the close proximity to downtown Menlo Park. Stop by my first open house on Saturday, April 27th or Sunday April 28th from 1:30 to 4:30.

Menlo Park and Redwood City New Homes – March 26, 2013

Inventory has been fluctuating substantially week by week, and based on
the booked schedules of stagers and home inspectors I would imagine
the first week in April will be a busy time. Here is a recap of homes that
have listed on the MLS in the past week:

MENLO PARK

1144 CASTLE WAY $4,450,000 | 6 Bed/5 Bath | 4,612 ft./9,956 Lot

In case you didn’t see it last time it was listed, Castle Way is back on the
MLS with a reduced price. This recently built home offers plenty of space
for a growing family as well as great access to downtown, nearby parks, and
the bike path to Stanford. Very nicely constructed with thoughtful finishes.

1361 SHERMAN AVENUE | $1,800,000 | 4 Bed/3 Bath | 3,010 ft./9,375 Lot

Sherman offers an expansive home in a central location, and by adding your
own touches you could have a house fit for entertaining all of your friends.

REDWOOD CITY

424 QUARTZ STREET | $1,449,000 | 4 Bed/2 Bath | 2,160 ft./11,682 Lot

Unique and charming are key words for this property. You won’t find anything
like it out there and being tucked away on a flag lot on top of a hill in the
precious stones street, you get views of much of the city. Don’t miss the
hide-away stairs to the rooftop for 360 degree views!

1227 FERNSIDE STREET | $775,000 | 3 Bed/2 Bath | 1,410 ft./6,272 Lot

A spacious fixer on a nice street makes this an ideal purchase for a first
time buyer. This home offers a traditional layout for this neighborhood in
great proximity to Stulsaft Park, commute routes, and walking in Woodside
Hills.

614 LANCASTER WAY | $749,999 | 2 Bed/1 Bath | 1,250 ft./5,500 Lot

A spacious two bedroom home offers a clean slate for first time buyers or
those looking to downsize. A gem with refinished floors and a quiet
neighborhood.

634 RUBY STREET $649,000 | 2 Bed/2 Bath | 1,190 ft./6,175 Lot

What a house! This is my pick for a tremendous starter home in Redwood City,
located in a nice pocket near the park. Ruby offers endless charm and
character with large bedrooms and a very efficient layout. Excellent choice
for first timers!

Learning to Love Living in a Smaller House

Have you ever walked into Ikea, looked longingly at those cleverly-designed, clutter-free rooms and fantasized about giving all your stuff away to Goodwill and moving right in?

Yes, me, too!

What is it about those compact, neat, uncomplicated spaces that’s so appealing? Is it the desire for a simpler life? Or the desire to have fewer carpets to vacuum and bathrooms to clean? Or maybe we know that clearing out the superfluous in our lives allows us to focus on what’s really important?

I remember watching an episode of Oprah in which she featured different women, living in different parts of the world, focusing on the spaces they lived in and what their lives were like. One woman in Sweden was living in a small loft house with three kids. Her motto was “have less, live more.”

Wow! That really resonated with me.

I think the world is moving in that direction. We want less stuff and more life. We want to be greener, use fewer resources and spend less time on cleaning and upkeep and more time enjoying our families, our interests and the outdoors.

I know that in this area of affluence, where bigger is often better, it might seem counter-intuitive, but there are lots of reasons to learn to love living in a smaller house:

•Savings in mortgage, upkeep and decorating expenses.

•Less use of utilities—better for the environment and your budget.

•Technology means that we need less paper—more resources are online and even books can be stored on a kindle or an iPad.

•More family togetherness—bigger houses mean everyone can “escape” to their own space. Smaller houses necessarily bring you together.

•Less “house” encourages us to get outdoors more and enjoy the amazing weather we have here.

There lots of ways to make a smaller house seem larger and inviting:

•Using light colors for walls and window coverings open up the house and make it look clean and fresh.

•Decorating with mirrors give the illusion of more space.

•Creating outside “rooms” where you can dine and entertain give you more living space without paying for more square footage.

Whatever your circumstances—whether you want to learn to love a smaller home or trade up to a larger house, let me help you find the home that’s perfect for you.