Team Elwood debates remodeling versus moving - Mason City Globe Gazette - Home Builder Developer, Interior Renovation and Design Home Builder Developer, Interior Renovation and Design

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Husband and wife Larry and Zelda Elwood see both sides of the Move or Improve debate that North Iowa homeowners often go through.

Zelda has been a Realtor for 12 years with EXIT Realty in Mason City. Larry has over 40 years experience in construction and is also a Realtor. I havent sold since becoming a Realtor because she always takes them from me, Larry joked. He owns Larry Elwood Construction in Mason City.

The only time we have disagreements is when were doing one of our own projects, Larry said. I say its too much money, and she says, But its beautiful! We call ourselves Team Elwood: we really work well together.

But there is no easy answering to the question Should I move or improve my home? according to the Elwoods. They say every home and every homeowner are different.

Personal desires, ambitions, and dreams have so much to do with it, Larry said. Some think of their dream home as their forever home. But as a builder, weve moved three times since October! Its hard for me to think like that, because I have nothing material thats important to me.

Our home was always where we hung our hat, Zelda said. But they acknowledged that often a home carries emotional weight for owners, which keeps them in a house that no longer works for them.

For so many women, they feel This is where my kids grew up, where they took their first steps, she said. To us, well always have those memories.

Larry clarified, We have the memories. We dont live in the memories.

Sometimes achieving the perfect home takes several steps. A lot of people get a first house, fix it up, and move up a notch, trying towards that dream home, Larry said. Kitchen and bath are the most expensive rooms. When you consider going to a newer home versus knocking out walls, $8,000 in renovations is way cheaper than trying to move. It makes the wife happy, and the house then has that open concept.

Zelda countered, It depends on the neighborhood. You dont want to be the most expensive house in the neighborhood. If youre going to list it, it helps to have open concept and nice kitchen and bath. But sometimes its not feasible to remodel, so youre better off trying to find a home that works better for the family.

One of biggest factors is, Do I like where Im at? Larry said. Like, is it close to schools? How many more years are my kids going to be in school?

If your mortgage is paid off, improving your home may be an easier bite to chew. If you dont owe on it, you might say, This is my place and I want to stay no matter what, but I hate my kitchen or bath. Those are some of the biggest sellers for improvement, besides energy efficiency measures. A new furnace wont make you stay, but energy efficient windows might help you decide to stay.

Larry estimated a new kitchen could cost from $8,000 up to $80,000, depending on the size of the home and the homeowners desires. He said you have to consider it an investment.

Youre going to have to live it out, maybe 10 years. If you say Theyre going to have to carry me out, then put the money in. But if youre young and the furnace is old, the place needs a new bath, its time to move up.

Zelda said, You can definitely put too much money into your old house.

Putting on a small addition can double a small bath or bedroom, Larry pointed out. Thats one of the things you can do if what youre in is where you want to stay. But sometimes its just a better option to list it and find something better.

If you decide to move, be prepared for a competitive market in this area. Were so short on listings right now, Zelda said. But Larry added, Our area is good, were not overpriced on homes. We still have land and lots available.

The cost of building a new home continues to go up, according to Larry. The cost of labor continues to increase because we have no qualified help. And everybodys stalled on account of interest rates going up. When it went from 3% to 4%, everything stopped. But back in 1980, the interest rate was 18%!

To build a twin home, Larry said, about $200,000 to $250,000 is kind of a comfortable spot. The cost of a new single family home can be $300,000 to $350,000. Zelda added, Hard to build for any less, unless you put cheaper stuff in there.

The only two numbers you can play with are labor and profit, Larry said. The rest is what it is. We have done things where we just framed an addition and made things water-tight, then the owner had friends to help finish. If there are some things you can do yourself, theres some true saving.

And then list it! Zelda exclaimed.

Sometimes its best to pay more to get a more finished home, according to Larry. If youre moving and trying to go up the ladder just a little way, that house needs the same improvements your old one did. But if you go up a little more in price on a new home, you can get something already done and with energy efficiency. Then you can live without having to do anything.

A lot of people dont want to get into the mess of remodeling, Zelda said. Young professionals with kids just dont have time. They want it nice and neat and clean, finished and upgraded. So they list their old house and move into something finished.

Twin homes are maintenance-free living on the exterior, Larry explained. A homeowners association does lawn care and snow removal. Were finding more young professionals work hard and want time to do things with their kids, so they dont want to have to mow the lawn.

A popular request for remodeling is knocking out walls between the kitchen and living room, according to the Elwoods. Open concept can take a drab house and make such a difference and give it a new feel, Larry said. And a walk-in shower is pretty much standard now in the bath. A double vanity gives Ma and Pa a little more room.

If you decide to sell, there are less expensive projects to make the house attractive to buyers. Larry said, Sometimes you have to spend money to make money. You can change some of the value on your home, but especially you can improve the appeal to sell it. Just dont break the bank.

Paint colors are going more contemporary, like grays instead of browns, Zelda said. Wood floors are in. Everybody looks at windows and electrical. Backyards are a big deal to a lot of people, but not for everybody. Some people don't want the maintenance.

Larry added, If the house stinks from animals or smoking, thats an immediate turn-off. I always try to freshen the paint, maybe put in new carpet but somewhat neutral. Lighten up walls and ceilings. Simple little things. New countertop and maybe new cabinet knobs.

Zelda said first impressions are critical. Potential buyers have to really like it when they walk in, unless theyre looking to flip it. And it has to be clean and uncluttered. De-clutter, de-clutter, de-clutter. Take down your pictures, so you dont have too much.

Take down your dish collection, Larry joked.

While many people find inspiration through popular television shows about house hunting and flipping homes, Zelda exclaimed, Thats one of the worst things to happen to Realtors and builders! People think they only have to look at three houses, choose one they want, and be done in 4 to 5 weeks. Just crazy! And they always blow bad things out of proportion on TV: We have to be done in 48 hours!

And the budget is $960,000, Larry chimed in. TV helps people envision. You can put lipstick on a pig, but sometimes lipstick makes a pig look better and more sellable. A lot of it is sweat equity. Simple things like painting the basement. Its not worth a dime in value, but $1,000 in looks, and maybe it makes people think the house is clean.