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The College Of New Jersey (TCNJ) 2000 Pennington Road
609.771.1855
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News10/07/2016: Princeton Weather 10/31/2013: Thinking of buying a house with a "fixer upper kitchen or bath"? “Wow, this house is in the perfect neighborhood, love the layout, and it’s just what my family needs. But… The kitchen and bath need updating….” As you find that “perfect” house with those couple items that needs a little TLC to make it yours, there are some things that you need to consider before diving in. While the obvious is, do I have the finances or the type of loan to make this happen, there are other things to consider as well. The first things to look into are based on your contractor, so make sure you have a good one! In an older home, sometimes the electric and plumbing needs to be updated. This depends on the age and quality of the existing structures. If you have cast iron or galvanized plumbing that is around 50 years of age, it probably needs to be replaced. If you are looking at connecting old plumbing to new plumbing, this can have an impact on your bottom line. Also, when updating a space, much of the old electric would not pass code these days, and could be quite a hazard. Contingent upon the access for the wiring, this can also add up. So make sure you know about these items when determining a budget, and even deciding if the renovation is possible for you. Other safety issues include asbestos and lead paint, make sure you know if the house you’re looking at has these issues in order to plan properly for them. The awesome part of renovating an old space is the charm and quality that already exists. Are there hard wood floors that exist that could be refinished, and not only save you a lot of money, but provide an incredible appeal to your space? Each and every home has a feel and style to it, which include existing distinctive fixtures, or tile, or millwork. Think about the details that exist in the home that appeal to you and discuss with your designer how to incorporate these items into the new design. What about keeping an existing sink and adding in a new faucet and mirror to update the space? Or keeping the tiles and changing out the sink, toilet, and hardware for an update? There are so many options to keep the feel of the space but update it at the same time. Once you have the knowledge of what’s going on in the existing space, this will prepare you for the discussions on what exactly you want to do, the budget, and how to go about it. Whatever decisions you make, consider all your options, have your mind open and make sure that you find the best partner to help you in the process. That could be a local experienced designer, contractor, architect, or even use a designer as a project manager to help you can make the right decisions. bluelotuskitchenandbath.com
10/17/2012: Location, Location...how much difference can a location make?
We are all acutely aware of the common real estate phrase, "location, location... location". It means that not all locations are created equal. State, County, Township, Borough, Street, as well as where your house actually sits on the street itself, all work to define your home, and any houses you are looking to potentially purchase.
Your home's location can make the difference between you looking forward to coming home every day, or potentially dreading your return. It's a key piece of your lifestyle puzzle, as well as being one of your largest financial investments. You create memories there, entertain friends and family, walk the dogs, (pet the cats), and, if you have children, it's where they may attend school and make friends. Commuting to and from work is a daily event. Your home is the sanctuary where you work inside, play outside, and often try to just sit, relax and unwind.
Location can also determine the financial difference between making a profit, breaking even, or taking a loss when you go to resell.
If you are a seller, you need to ask yourself, (when pricing your house for sale), does its location add to its value, i.e.; does it rest in a cul-de-sac, on a side street or in a coveted neighborhood? Is it in a prime 'walk-to-town' location, as easy drive to any NJ Transit/Amtrak train stations, or sit on a beautiful and private piece of property?
Alternatively, does its location detract from its value in any way, i.e.; is it on a busy road, have high tension power lines in the backyard, or high-speed train tracks right there, within sight and sound?
For better or worse, location is one of the few things you cannot change about the home you already own. You can, however, keep in mind any location pros and cons, when pricing your house for sale.
If your location has a big negative that comes with it, be cautious when it comes to potentially over-improving while renovating, and be as realistic as you can bear to be, when it comes to setting a listing price for sale.
If you are a buyer, just keep in mind that even though a house itself may be amazing, if the house comes with a big location negative, the purchase price needs to be appropriate, to accommodate that negative. Future buyers will undoubtedly share similar concerns, about that same location issue, when they look to purchase.
Likewise, If the location itself is highly sought-after, the asking price will likely reflect that - so be prepared to pay more for a house in a better location. It's quite common to pay much more, particularly in Princeton, for a lesser house, that rests in a more desirable location.
Purchase and renovate wisely, and remember that the one thing you most likely won't ever be able to change, will be your home's location, location... location.
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