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Ahhh, the spa. It’s been too long since most of us could go to a real spa (thanks, COVID). We miss the luxury of a hot tub soak and the power of sauna and steam rooms to align our body and spirit. So, we’re doing the next best thing. We’re remodeling our bathrooms with spa-inspired features to get that relaxing vibe at home. Enter the spa bathroom. The trend has even inspired a new word blend: spathroom. 

COVID and more time at home caused homeowners to search out creative ways to enjoy their homes more. “We’re looking for ways to relax at home versus going out. So, bringing that luxury home in the form of a spa bathroom is a logical next,” says Dr. Anna Ruth Gatlin, an assistant professor of interior design at Auburn University.

But a spa bathroom can carry a hefty price tag. A bathroom remodel costs an average $35,000, according to the National Association of REALTORS^® “Remodeling Impact Survey.” A budget-friendly remodel can be done for as little as $2,500, depending on the scope of the project and where you live, according to “Forbes Advisor.”

Spa Bathroom Ideas

Improvements that can add value to your home include upgrading your shower, adding storage through shelving, and refreshing your color scheme, according to Property Price Advice. A bathroom that still needs upgrades will make the whole home much less appealing to buyers, says realtor.com®. The website recommends enhancing marketability through simple upgrades like installing new bathroom hardware and adding shelving.

If you make smart choices, you can also get soul-soothing relaxation from spa features like a new steam shower. And that can’t be measured in dollars and cents.

#1 Install a Spa Showerhead.

Replace your plain showerhead with a more luxurious model to turn your daily shower into a restorative experience. We’re not talking about changing out the whole fixture just the head, so you can do it yourself. You can get a rain showerhead that sprays water directly from above, or heads with adjustable massaging spray patterns.

Japanese meets Scandinavian in ‘Japandi,’ a trend that makes a bathroom look like it stepped out of Ten Thousand Waves Spa in Santa Fe.

#2 Upgrade Vanities.

Updating your vanity can make a big change in a bathroom without costing a lot of money. You can transform a dated vanity with new paint, new hardware, and a new countertop. So you don’t have to rip out and replacing the entire unit. To get a spa look, consider painting a wooden vanity matte black, adding shiny brass pulls, and replacing the vanity’s countertop with a slab of white marble.

#3 Add Some Japandi.

Japanese meets Scandinavian in “Japandi,” a bathroom trend that combines Zen with hygge for a bathroom that looks like it stepped out of Ten Thousand Waves Spa in Santa Fe. Japandi uses a neutral color palette accented with brass or black fixtures and a lot of wood to push a connection to nature. You don’t have to remodel your entire bathroom in Japandi style. Instead, paint the walls a cool white tone and replace your vanity mirrors with simple round ones. Swap out faucets, cabinet pulls, and towel racks with new black metal ones, and add open wooden shelves. Bathroom paint is an affordable alternative to tile, a fast way to change the look of the room. 

#4 Go for Gold.

Gold and brass have made a comeback, replacing silver and nickel trim as the finish of choice in bathrooms. Now is a good time to upgrade your faucets, towel racks, showerhead, shower trim, and mirror frames with a yellow-tinged metal. “After nearly two decades of loving the cold industrial feel of steel, we’re craving warmer-toned metals in bathrooms,” Gatlin says. It’s a cold world out there. We could all use the warm glow of a gold showerhead or towel rack to warm our souls and lift our spirits.

#5 Install a Towel Warmer.

Nothing says “Ahhh, I feel like I’m at a spa” like stepping out of the shower and wrapping yourself in a warm towel. You can get that feeling at home by installing a towel warming rack in your bathroom. They range in style from plug-in models that need no electrical work, to upscale models that an electrician will need to wire into the bathroom. Those higher-end models will add lasting value to your home and do a better job of warming those towels and making you feel pampered.

#6 Opt for Natural Wood.

Pull up the tile, linoleum, or (shudder) carpet on your bathroom flooring. Then put down wood floors in a water-resistant material like teak, cedar, or hinoki cypress. This brings nature and warmth into your bathroom. Don’t want wood in a wet place like a bathroom? Think about porcelain tile that’s made to look like wood. You’ll get the warmth of wood grain with the durability of tile. 

#7 Put in Open Shelving.

A few rows of open shelving made of wood can make your bathroom more spa-like by adding a wood finish. They also provide a place to stash your shampoo bottles, towels, and other grooming supplies that can clutter a bathroom. Open wood shelves will make your bathroom more functional, fast. And more storage almost always adds to a home’s value.

#8 Add a Bidet Attachment to Your Toilet.

Once exclusively a European or Asian thing, Americans discovered bidets during the COVID pandemic when fears of a toilet paper shortage spurred bidet sales. Bidets fit in with the spa bathroom aesthetic because spas are about cleanliness and purity. You can go for a full, standalone bidet. Or you can get the same effect by buying a bidet attachment that fits onto your existing toilet. The best choice for adding value to your house is a bidet toilet seat that fits permanently onto your existing toilet and features a dryer function. 

#9 Go Big With a Spa Shower.

This is a big-ticket item. Spa bathroom showers are usually double the size of a normal shower and tiled from head to toe — no shower curtain, just glass doors or walls. The idea is to create a rainforest waterfall feel. They usually have a wellness showerhead the size of a dinner plate that offers a range of spray patterns along with chromotherapy. 

#10 Build a Wet Room.

We’re in total room remodel territory now. Wet rooms turn the entire bathroom into a waterproof space. This dispenses with a walk-in shower and creates a bathroom with a shower that’s open to the bathroom and separated only by a half-wall of glass or tile. There’s a freestanding soaking tub in a wet room, too. A wet room looks like the bathroom at an actual spa, with bathroom tile on walls, floors, and sometimes even ceilings. It’s a super high-end bathroom that will add luxury with a capital L to your home.

 

By: HouseLogic

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If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one.

If that’s the case, you should know – you may be able to get the best of both worlds today. Here are four reasons why this spring may be your golden window of opportunity.

1. The Number of Homes on the Market Is Still Low

Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market today than there are homes available. That means purchasers are eagerly waiting for your house.

Listing your house now makes it the center of attention. And if you work with a real estate professional to price your house correctly, you can expect it to sell quickly and likely get multiple strong offers this season.

2. Your Equity Is Growing in Record Amounts

According to the most recent Homeowner Equity Insight report from CoreLogic, homeowners are sitting on record amounts of equity thanks to recent home price appreciation. The report finds that the average homeowner has gained $55,300 in equity over the past year.

That much equity can open doors for you to make a move. If you’ve been holding off on selling because you’re worried about how rising prices will impact your next home search, rest assured your equity can help fuel your move. It may be just what you need to cover a large portion – if not all – of the down payment on your next home.

3. Mortgage Rates Are Increasing

While it’s true mortgage rates have already been climbing this year, current mortgage rates are still below what they’ve been in recent decades. In the 2000s, the average mortgage rate was 6.27%. In the 1990s, the average rate was 8.12%.

For context, the current average 30-year fixed mortgage rate, according to Freddie Mac, is 3.85%. And while recent global uncertainty caused rates to dip slightly in the near-term, experts project rates will rise in the months ahead. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, says:

“For homebuyers, we believe that borrowing costs will likely rise with the increase in mortgage rates….”

When that happens, it’ll cost you more to purchase your next home. That’s why it’s important to act now if you’re ready to sell. Work with a trusted advisor to kickstart the process so you can take key steps to making your next purchase before rates climb further.

4. Home Prices Are Climbing Too

Home prices have been skyrocketing in recent years because of the imbalance of supply and demand. And as long as that imbalance continues, so will the rise in home values.

What does that mean for you? If you’re selling so you can move into the home of your dreams or downsize into something that better suits your current needs, you have an opportunity to get ahead of the curve by leveraging your growing equity and purchasing your next home before prices climb higher.

And, once you make your purchase, you can find peace of mind in knowing ongoing home price appreciation is growing the value of your new investment.

Bottom Line

If you want to win when you sell and when you buy, this spring could be your golden opportunity. Let’s connect so you have the insights you need to take advantage of today’s incredible sellers’ market.

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Spend your time on tasks that make it feel inviting, show it’s cared for, and boost your curb appeal. To determine the full list of things you’ll want to tackle for your home, you need the opinion of a trusted expert. Let’s connect to help make sure your house shows well this season.

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Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15 years ago.

However, experts say the market is totally different today. For example, Odeta Kushi, Deputy Chief Economist at First American, tweeted just last week on this issue:

“. . . We do need price appreciation to slow today (it’s not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates & demographic demand. And we are in a much different & safer space: better credit quality, low DTI [Debt-To-Income] & tons of equity. Hence, a crash in prices is very unlikely.”

Price appreciation will slow from the double-digit levels the market has seen over the last two years. However, experts believe home values will not depreciate (where a home would lose value).

To this point, Pulsenomics just released the latest Home Price Expectation Survey – a survey of a national panel of over 100 economists, real estate experts, and investment and market strategists. It forecasts home prices will continue appreciating over the next five years. Below are the expected year-over-year rates of home price appreciation based on the average of all 100+ projections:

• 2022: 9%
• 2023: 4.74%
• 2024: 3.67%
• 2025: 3.41%
• 2026: 3.57%

Those responding to the survey believe home price appreciation will still be relatively high this year (though half of what it was last year), and then return to more normal levels over the next four years.

What Does This Mean for You as a Buyer?

With a limited supply of homes available for sale and both prices and mortgage rates increasing, it can be a challenging market to navigate as a buyer. But buying a home sooner rather than later does have its benefits. If you wait to buy, you’ll pay more in the future. However, if you buy now, you’ll actually be in the position to make future price increases work for you. Once you buy, those rising home prices will help you build your home’s value, and by extension, your own household wealth through home equity.

As an example, let’s assume you purchased a $360,000 home in January of this year (the median price according to the National Association of Realtors rounded up to the nearest $10K). If you factor in the forecast for appreciation from the Home Price Expectation Survey, you could accumulate over $96,000 in household wealth over the next five years (see graph below):

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Bottom Line

If you’re trying to decide whether to buy now or wait, the key is knowing what’s expected to happen with home prices. Experts say prices will continue to climb in the years ahead, just at a slower pace. So, if you’re ready to buy, doing so now may be your best bet for your wallet. It’ll also give you the chance to use the future home price appreciation to build your own net worth through rising equity. If you want to get started, let’s connect today.

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In addition to an extremely tight housing market in California, prospective homebuyers are also now facing the prospect of a rising cost of living on everything from cars to gas to groceries to consumer goods. This, in turn, has triggered a more aggressive stance by the Federal Reserve, which has signaled that they are prepared to raise their target interest rate several times this year in order to stave off further inflation. Thus far, interest rates for 30-year, fixed-rate mortgages have already risen from an all-time low of 2.65% at the beginning of 2021 to nearly 4% by February 2022. In addition, the emerging conflict between Russia and the Ukraine threatens additional inflation in the U.S. as global oil supplies are disrupted.

However, despite the rising headwinds facing the real estate market in California, there are also reasons for potential homebuyers to overcome the dreaded “buyer fatigue” to get their foot on the property ladder in 2022. First, interest rates are expected to continue to normalize back to pre-pandemic levels where rates above 4% were the rule, not the exception. Even if the Federal Reserve does not raise rates as many times as they have signaled, inflation expectations and a recovering economy will translates into higher long-term rates—the question is simply, “by how much?” This is an important consideration for future homebuyers because for the projected $830,000 median-priced home in California this year, each 0.5% increase in mortgage rates translates into roughly $200 per month in additional mortgage payments. And, that additional payment is for the same exact $830,000 home. No extra square footage; no extra amenities; no extra outdoor space—$200 per month is simply additional borrowing costs.

Another important factor for homebuyers to consider is the outlook for home prices. Even with the rise in interest rates, housing demand still far outstrips housing supply in California and this trend is expected to generate more upward pressure on home prices. Despite the turbulent economic environment owing to the pandemic, the fundamentals in the housing market remain robust and the prospects for a surge of defaults and foreclosures driving a flood of new inventory onto the market are minimal as a result. C.A.R. is currently forecasting that the median home price will rise by 5.2% in 2022, but there is consensus amongst other forecasters that prices will continue to rise as well.

Taken together, that means that the cost of waiting until next year will be two-fold: paying higher prices at even higher interest rates—something that will have significant financial implications for homeowners over a 30-year loan period.

Finally, the white-hot market characterized by extreme competition amongst buyers that prevailed last summer, has ebbed slightly creating a bigger window of opportunity for would-be homeowners. Although still very tight by historical standards, homes are staying on the market slightly longer now than they were in 2021. In addition, the percentage of homes selling for more than the asking price has also fallen slightly—another positive development for those submitting offers. As always, the decision on when is the “best time to buy” a home comes down to the individual personal and financial circumstance. However, an improving economy, rates that are still near historic lows, and the prospect of both higher prices and higher interest rates in the future suggest that, for those in a position to be able to do so, 2022 could be a good time for many homebuyers to finally achieve the American Dream of homeownership.

COPYRIGHT © CALIFORNIA ASSOCIATION OF REALTORS®

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It may see counterintuitive, but a rigid schedule can really mess things up.

One of the things that drives up remodeling costs (and frustration levels!) are delays. And these delays are often caused by ignorance on the homeowner’s part.

It’s that old axiom: You don’t know what you don’t know.

Until now.

Here’s a list of time-sucking mistakes homeowners often make (so you don’t have to).

#1 Designing Before Budgeting

You think you can afford that luxurious marble countertop — until you talk to the fabricator. It’s $2,000 over budget, and there’s no room to squeeze. If you’re already past the design phase, that’s a brutal discovery requiring a serious re-think — and extra time you don’t have at this stage of the game.

“There are an infinite number of design possibilities, but as soon as you pick a budget, seven-eighths are gone,” says Charles Rinek, who owns a remodeling and custom construction firm in Palm Coast, Fla. “Concentrate on the eighth that is appropriate with your budget.”

Know your budget. Then follow your dreams.

#2 Indecision

Even the design-challenged can create a stunning kitchen with Pinterest on their side. But the breadth of options might create dismay — and delay — if you keep finding a better backsplash.

“Over-analysis becomes paralysis,” says Annmarie Bhola, who co-owned a remodeling company. “Now you spend all this time watching shows, and looking through Pinterest, and before you know it, oh my gosh, now I have all this data. Which should I choose? Should I go with light or dark?”

And then, the paint color isn’t right. So now you’ve got to rethink your complete color scheme.

Don’t be that homeowner. Once your design is finalized and construction is under way, consider your choices set in stone, or you might find yourself days, even weeks behind schedule when workers are waiting on you to decide.

#3 Scheduling Work Before Materials Are On Site

You might have allotted enough time for each step — but if what you need isn’t there when you need it, all the scheduling in the world isn’t going to make up for that lost time.

Before scheduling workers to install your new cabinets and appliances, make sure the materials will be there for them. Don’t just allocate installation time; know how long it will take to ship your farmhouse sink. (Another related point: Know your contractor’s schedule, too, so you won’t be dismayed when he can’t come the day your cabinets arrive.)

Bhola says her common practice is to order everything ahead of time, to know the delivery dates, then to schedule contractors to start after that date.

Time is almost always the reason why kitchen remodeling mistakes happen.

#4 Choosing to Live in the Mess

Remodeling is messy — dust everywhere, your pots and pans scattered, and living spaces become storage spaces.

No one expects you to be Martha in the midst of a home makeover, but too much disorganization will hog your time because you can’t find anything. Next thing you know, you’re a day behind because you couldn’t find the installation guide for the dishwasher.

As part of your project plan, include a strategy for a temporary kitchen and all the stuff that needs a new home while construction is happening. And be sure to plan time to move it all so a) you don’t end up dumping everything in the nearest clear spot, or b) delaying the start of demolition, which means you’ll be starting out with a #fail.

#5 Not Paying Attention to Permits

Your Uncle Joe swore he didn’t pull a permit for his kitchen remodel, and everything turned out fine. But if an inspector raises an eyebrow on a drive around the ‘hood, skipping this essential step could cost you months of inspections and repairs.

Give your local building department a heads-up. Plus, permits ensure your renovation is to code, catching any dangerous (or deadly) errors, like faulty outlets and improper plumbing.

Just make sure to budget time for the inspection.

“You can’t move forward with anything until it’s been inspected,” Rinek says. “God forbid he doesn’t show up until 4 p.m. and he doesn’t like your work. All that time adds up.”

#6 Not Doing a Test Run on Materials

That soft coral tone was sure to make your subway tile pop. Until it didn’t. Give every paint, tile, and wood type a test run, otherwise, you might find yourself not liking the results, and then find yourself falling behind schedule while you pick the replacements.

For paint, Harris recommends covering a few inexpensive canvases in your favorite colors and leaving them in the room for a few days to help you decide. Do this long before workers come on site. As for cabinets, he suggests you “get a whole door.” You can’t see what a cabinet “really looks like from a three-by-three sample.”

#7 A Too-Rigid Schedule

It might seem counterintuitive, but sometimes, your best choice is to just suck it up and cause a delay — especially if you don’t want regrets later.

“Time is almost always the reason why kitchen remodeling mistakes happen,” says Evan Harris, a San Diego real estate investor.

If you do start falling behind schedule because of unexpected surprises (darn carpenter bees — on top of hurricane weather, really?!), you might be tempted to try and make up the time.

But there’s where the danger lies, says Harris. That’s when you end up with sloppy work that may not stand the test of time: cabinets that aren’t level, a floor that wasn’t allowed to dry completely between coats and loses its luster too soon, a sloppy paint job. Cue future problems and expenses.

His advice: Budget even more time than you think you need for every step — and you might even finish early, in plenty of time to plan your housewarming.

By: Jamie Wiebe

Photo: Mikael Blomkvist 

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