Park Avenue Style Meets Miami Beach

We have just listed a massive 3 bedroom and 4.5 bath residence inside the famed TowerHouse in Miami Beach. TowerHouse is a refined Park Avenue style building with 44 employees servicing 83 apartments. The unit is 2,868 sq. ft. (266.42 meters square) and ready for your personal touch.

TowerHouse is situated on Collins Ave and Indian Creek offering fantastic ocean and bay views. The building also has it’s own private restaurant with a $200/month credit, park and marina. Offered at $1,300,000.

If you are interested in learning more about the residences available in TowerHouse, please contact us by sending a message here.

 

 

Real Estate Advisor | Feb. 2016

Home Improvement Projects for the Best Return Many of us, when we purchase a home or property, anticipate a number of future home improvement projects will take place. Unless you buy a brand new home, or you are able to have a custom home built, home improvements and updates are definitely a sure thing in today’s market. While we may be attracted to the idea of a shiny, new kitchen or master bathroom, sometimes other projects should take precedence, especially when money and return on investment are concerned. Not to say a kitchen or bathroom remodel are totally out of the question, because they certainly are not, but should you find your home in need of updates or improvements, consider these improvements as the best investment to begin with before you move on to cosmetic upgrades.

Home Maintenance

Home Maintenance should take precedence if you find your new property lacking in the basics. If the roof is about to collapse, it’s probably a good financial investment to put any extra funds into a new roof. When thinking of home improvements or projects, it’s best to think like a home buyer. What would you most want out of your new home? Most people searching for a new property will shy away from homes that need major repairs or updates (unless they have an endless budget), and most of these come in the form of home maintenance. Roof caving in? Water in the basement? Windows leaking? Structure crumbling or foundation leaking? These are all items buyers equate with lots of dollar signs, and more than likely they’ll move on to the next house if any of these things come up on a home inspection or are clearly visible during a viewing or walk through.

When it comes to initial home improvements, the upkeep of basic home systems trumps whether or not the kitchen or bathroom have been updated. Also, depending on where you live in the country, certain systems will initially be more important than others to buyers and investors. If you live in an area that has extreme seasons, the roof, windows and insulation will be more important than an air conditioning unit.

Adding On

If the basic systems of your home are in good working order, the next best thing to consider when thinking of improvements that will see a large return when selling is where your home or property could be lacking in space. Only have one bathroom but four bedrooms? You’ll see a larger return on your money by adding on an additional bathroom than if you chose to remodel your kitchen. According to the National Association of Home Builders, an additional half bath can increase a home’s total value by almost 10%, and a full bath can increase the value by 20%. The same goes for a garage – if your home lacks a garage, adding on a basic freestanding garage can see a 63.7 percent return on investment. If you’re considering improvement projects that go beyond the basics, consider adding on where your home is lacking: not only will it help increase the value of the property, it will also add to your living experience for as long as you stay in the home.

Kitchens and Bathrooms

Many buyers are attracted to updated kitchens and bathrooms, and to be honest, who isn’t? An outdated kitchen or a bathroom that has seen better days can definitely make a potential buyer turn away. If you’re contemplating improving on your home, and you’re hoping to complete a project that will see a considerable return on investment, upgrading a kitchen or bathroom is a great option if all the other important areas of your home are in good working order. According to remodeling.hw.net, in 2015 the national average for costs recouped on a bathroom remodel was 70 percent; for a minor kitchen remodel it was 79.3 percent, while a major kitchen remodel was 67.8 percent.

Deciding on whether or not to partake and invest in a home improvement project can be difficult, especially when there are a number of options and ideas to choose from. Before you make your final decision, remember there are a number of other factors that should be considered beforehand: the value of your home, the value of the neighborhood you live in, your local housing market, the quality of the project you choose, and of course whether you plan to immediately sell your property once the project is complete. You want to get the highest return out of your project – plan accordingly, and you’ll be happy with your final decision, as will your wallet.