by Joe Savage, Associate Broker
Looking back, the 2014 real estate sales season presented some surprises in the Gulf Shores Plantation market. Perhaps the biggest surprise was the price variations among units sold in Plantation East. Some of the extreme variability was a product of location and view. But in evaluating the other sales, it seems the property interior was a major factor. People paid more if the unit was well finished inside, even if it had a lesser view of the beach and gulf. For example, two Plantation East properties that sold in the July/August period: One sold for nearly 12% more, even though the other was closer to the beach and offered an elevated 3rd floor view. The other major difference between the properties was that one unit was beautifully…almost sumptuously…renovated throughout.
I addressed “unit condition” a few years back as a major element in successfully marketing a unit for sale. Not only can you demand a higher sales price, you will shorten your time to sell. If a unit is largely renovated, a prospective buyer won’t be looking down the road at more costs after they’ve paid the down payment, closing costs, etc. Given our recent experiences, it seemed suitable to revisit some economical (and not-so-economical) updates and renovations an owner can do to make their unit more attractive for buyers.
Over the next several months I will address four topics about upgrading, consisting of flooring, kitchen, bathrooms and “everything else.”
FLOORING
Beach properties should not have carpet. Carpet and sand just don’t mix - sand will cause the loss of carpet fibers that will show traffic patterns even more quickly. Traffic patterns, thin patches and stains will date carpet quickly and require a frequent replacement cycle.
If you don’t already have tile, you should consider it. Large 18” tile is available at a great price and offers fewer “grout lines” and helps to expand the perception of space. Try installing it diagonally for a elegant and high-end feel. If your floor decking is wood (Bldgs. 1, 2 and 3), be sure your installation includes a cementitious backer board between your wood decking and the floated-out tile floor.
If your tastes don’t include tile, but you want something durable, affordable and warm, consider wood laminate. A quality wood laminate can look like the real thing and add a high-end feel to your property.
Lastly, buy a couple of bags of felt pads in different sizes and shapes, and put them on every piece of furniture in your property. That way, the furniture will easily slide when you have to move it and the frequently moved furniture won't scratch the flooring.
One final thought: If you are going to be updating and/or redesigning your kitchen (the next installment), be sure to consider any cabinet changes in your flooring project. You want the flooring to be under the cabinets so the dishwasher can slide out properly, and so that when the new cabinets are installed, there are no grout-filled gaps between where the tile ends and the cabinets begin. That is why so many kitchen upgrades are bundled with flooring projects.
