Do you fee trapped in your current home?

By Fred Golden

Associate Broker

The Field-Golden Team

Prudential Douglas Elliman

This is a re-post of an article that appeared on CNN Money.  Not something I usually do, but it may be important to many of my readers and I did not want them to miss it.

By Josh Garskof, CNNMoney.com
January 23, 2012

You don’t have to be underwater on your mortgage to feel trapped in your home.

Now may be a less than ideal time to put a house on the market or to take on big debt — icing your plans to trade up or build an addition anytime soon. But that doesn’t mean you’re stuck living in an uncomfortable home.

For a few hundred to a few thousand dollars, you can make your place “live” bigger without actually making it bigger, says architect Sarah Susanka, a small-space specialist and author of “Not So Big Remodeling.”

Call it thinking inside the box; here are nine creative solutions for cramped homes.

1. Multitask the dining room …

Cost: $500 to $2,000

If you have an eat-in kitchen, your dining room is probably used for special occasions only.

“Why have a prime spot sit vacant except for two or three holidays a year?” says Susanka.

Use it every day as an office or homework room without giving up dinner-party capabilities. Install doors ($300 to $500 each, with labor); add shelves or a cabinet for supplies; and invest in fitted pads to protect the tabletop.

For more flexibility, try a table like homedecorator.com’s $629 Mission Table Cabinet, a sideboard that — amazingly — telescopes into a full-size dining table.

2. … and the guest room

Cost: $100 to $3,000

Stop dedicating a whole room to infrequent out-of-town visitors.

With a decent air mattress,futon, or pull-out couch, you can lose the spare bed and use the room for day-to-day needs. (If you go with an air mattress, make sure to choose one with a built-in reversible motor to simplify the inflating and deflating.)

Add furniture, and what was only a guest room can double as a media or game room or home office.

3. Add a powder room

Cost: $3,000 to $6,000

Adding a first-floor powder room is simple if you have an unfinished basement or crawlspace for running the new pipes. Look for an existing room — a coat closet, say — and you won’t have to build walls.

To save more, forgo the tile. The minimum space required by code is typically 2½ by 4½ feet, but you can often get an exemption to go even smaller.

4. Build a home office closet

Cost: $100 to $3,000

If your family is already bursting the seams of your abode, a home office might seem out of the question. But every household needs at least a small desk for paying bills and to anchor a wireless Internet system — and you can often fit it all in a closet or armoire.

At its simplest, all you need are five or six deep, sturdy shelves made from wood or a composite product, which can total less than $40 at a home center. In a closet, set the lowest shelf at 30 inches high so you can wheel up a chair.

5. Bring the laundry upstairs

Cost: $5,000 to $7,000

Hiking up and down the stairs with laundry is enough to make anyone wish she could trade up. Instead, just move the machines.

Today’s full-size high-efficiency washers and dryers are all designed to stack. You can steal the space — a little more than four square feet — from a closet, hallway, or nook.

You’ll need to run new pipes and wiring, so being near an existing bathroom helps keep costs down, says Raleigh, N.C., architect Tina Govan. Make sure to include a drain pan to collect overflows or spills.

6. Open the floor plan

Cost: $2,000 to $4,000

A choppy layout of undersize rooms can make any house feel claustrophobic.

“People like the look of older homes, but not the way they function,” says Seattle architect Thomas Lawrence.

To open your floor plan without major expense, remove doors from rooms that don’t need them. Interior walls can come out for $2,000 to $4,000, unless they support the building or contain pipes — in which case a window or pass-through may be a more feasible solution.

7. Use built-ins to replace a closet

Cost: $4,500 to $6,000

If you choose to eliminate a closet to expand or enhance your living space, create some built-ins to get back the lost storage. A run of four- to 10-inch-deep shelving along a wall has almost no effect on the size of a room, says Corvallis, Ore., architect Lori Stephens.

And it can handle many times the capacity of a closet. You might spend $4,000 removing the closet and another $2,000 on new built-in cabinetry, or just $500 if you use assemble-it-yourself home-center cabinetry, such as the Billy collection from Ikea.

8. Build a bump-out

Cost: $6,000 to $12,000

Another trick to expand a home without a full-blown addition is called a bump-out. You hang extra space off the side of the house, sort of like an oversize bay window.

Structurally, it can’t extend more than about three feet from the existing exterior wall, but it can run nearly the whole length of the building — enough space to add an eating area to your kitchen or a closet to your master bedroom suite.

Because there’s no foundation work, a bump-out costs about $150 a square foot — or just $100 if you can tuck it under an existing roof overhang.

9. Finish non-living spaces

Cost: $15,000 to $30,000

Converting a full-height basement or garage into living space gets you an addition at half price. You’ll need a floor, ceiling, walls and more, but no structural work, no foundation, and no roof, so it’ll cost $50 to $100 a square foot — vs. about $200 for a true addition.

Attics are fair game, too, but more complicated because you may need to add a stairway and probably extend the plumbing, heating, and cooling systems a flight up. Doing all that brings the cost to around $150 a square foot.

 

Fred Golden is part of the Field-Golden team at Prudential Douglas Elliman and can be reached at 917.620.4907.  The team may also be found on Facebook at www.facebook.com/Field.Golden. Prudential Douglas Elliman is an independently owned and operated member of The Prudential Real Estate Affiliates, Inc., a Prudential company. Equal Housing Opportunity. 

 

About Fred Golden

After 30 years as an executive in the world of finance, Fred Golden chose to enter real estate in 2002 because he not only likes working with numbers and people, he enjoys puzzles as well. "I liken buying a home to fitting together the pieces of a puzzle. Finding the right place to live can be difficult and sometimes contradictory. Purchasing a home is a big decision that involves many elements that must align to meet a buyer’s real needs, if they are to be happy with their purchase." Having owned single-family homes, and condos, and having sold many co-ops, Fred is certainly familiar with the process. Understanding the financial implications and the emotional overtones of this important transaction, he endeavors to help buyers express what they really want in a home, and to educate sellers on the market, pricing and competition so they can make informed, confident decisions. Originally from Philadelphia, Fred graduated from Temple and Fordham Universities. He holds a BBA in Finance and an MBA in International Management. His extensive corporate background at domestic and international companies involved roles in finance, information technology, internet marketing and manufacturing. While selling real estate in New York, Fred was also a licensed broker in Florida. He has lived in New York City for 15 years, and thoroughly enjoys the diversity of people and ideas, as well as the "infinite choices" the city provides. When you work with Fred as your real estate partner, he will guide you through the process with sound advice and honest answers - not promise the impossible. With him you will know your options as well as the procedure for buying or selling a home so there are no surprises, only a good experience and a rewarding outcome. Fred is a member of the Real Estate Board of NY, and the NY State MLS as well as the National, New York State and Westchester-Putnam Association of Realtors, Fred and his partner, Barbara Field have pooled their skills, expertise, and 25 years of experience to help their clients and customers alike. Outside of his commitment to serving clients, Fred is most interested in skiing, world travel, photography, and the diversity of today’s digital world.
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