Remodel-Rejuvenate-Restore
Published January 2004
2003 Cost vs. Value Report
Need some financial help for your renovation projects?
Call Boston HomeWorks
Why Do I Need A Building Permit?
Paint Your Home in 2004!
Home Improvement Web Sites
Don't Throw It Away - Donate!
Need a Contractor but Don't Know Who to
Call? Ask us!
Winter is a great time to start thinking about updating or renovating
your home. Renovations require a certain amount of research and
time, and contractors are generally more available for estimates
in this season. So, it's never too early to get started! Whether
you build an extra room or just paint an existing one, home improvements
add value to your property and comfort and simplicity to your life.
If you're wondering where to start, in our effort to serve our best
clients, we’ve hand-picked some relevant and up-to-date information
that might assist you - tips and trends, useful websites, local
resources and more.
2003 Cost vs.Value Report
by Sal Alfano, Editor-in-Chief of Remodeling Magazine
Realtor Magazine, December 2003
How much of the cost of a remodeling project can be recovered at
resale? Remodeling Magazine’s annual Cost vs. Value Report
samples current conditions in 35 markets. The figures include a
typical remodeler’s markup.
Resale values are based on the professional judgment of National
Association of Realtors members.
A grain of salt
The numbers presented here can serve as a guideline for those contemplating
the potential return on investment for particular remodeling projects.
However, it’s important to acknowledge a variety of factors
that can affect both the cost of remodeling and the resale value
of homes.
There’s more variation on the value side. Return on investment
depends on the value of the house itself, the value of similar homes
in the area, and the rate at which property values are changing
in the surrounding neighborhoods. And, of course, similar houses
in different neighborhoods within the same city will vary in value.
Supply and demand also has a bearing on a home’s value.
Finally, factors such as commuting distance, quality of schools,
proximity to shopping, and cultural activities all play a role in
determining real estate values.
Other measures of value
Unlike other kinds of investments — stocks and bonds or bank
CDs, for example — the value of any remodeling project includes
elements that can’t readily be measured in dollars and cents.
In some cases, the benefits are tangible. Replacing windows, for
instance, typically adds comfort and reduces energy costs. The same
is true of remodeling projects that include an upgrade of house
systems — replacing HVAC equipment with more efficient models,
for instance. And a kitchen remodel often includes upgraded appliances
that are both easier to use and more energy-efficient.
Other benefits are intangible but no less real. Adding a family
room can improve the quality of life for a growing family. Likewise,
increased storage in a new master suite may free up space for an
exercise room in another part of the house. Taken together, the
overall effect is reduced stress, increased comfort, and improved
physical and mental well-being. And when the house is sold, that
equity is tax-free. Few other investments can make the same claim.
Need some financial help for your renovation
projects?
Call Boston HomeWorks
Boston HomeWorks 617.635.0600
http://www.cityofboston.gov/dnd/A_HomeWorks.asp
The City of Boston Department of Neighborhood Development, through
its Boston HomeWorks program, offers eligible homeowners financial
and technical assistances for their home improvement repair projects.
Boston’s owner-occupants of 1-4 family homes, including condominium
units, who meet program guidelines, can receive a conditional grant
to help finance the cost of repairing their homes. Repayment of
the conditional grant is only required if you decide to sell your
home for any reason, or no longer use it as your primary residence
within ten years of completing your home improvement project.
Based on the repairs you need to undertake and your gross annual
income, you may be eligible to participate in one of the following
programs:
HomeWorks Program
HomeWorks offers conditional grants for 1/3 of the total cost of
certain interior and exterior home improvements, up to a maximum
of $3,000 or $4,000 if you paint the exterior of your house. To
be eligible for this program, you must be an owner-occupant of a
one to four family house, or condominium unit. Your income cannot
exceed $56,000 if your household consists of one person, or $85,000
for households of two or more.
HomeWorks conditional grants can be used for just about any home
improvement. To receive the grant, you must obtain the matching
funds that are needed to complete your project.
Boston's Historic HomeWorks Program
The goal of the program is to assist owners of 50-year-old-plus
homes with making repairs that maintain the original architectural
integrity of their homes, and, also to enhance the historical character
of their neighborhoods.
In order to participate in Boston’s Historic HomeWorks, you
must be an owner-occupant of a 1 to 4-family house, which must be
at least 50 years old and located in the City of Boston. Your income
must be $56,000 or less for a single person, or $85,000 or less
for two or more people.
Boston’s Historic HomeWorks will provide you with a grant
of up to $4,000 to help you make eligible home repairs. The grant
will cover up to 50% of the cost of repairs based on the estimate
provided by your selected contractor. The amount of rehabilitation
you can do ranges from $2,000 to $35,000. To receive the grant,
you must obtain the matching funds needed to complete the job.
HomeWorks Emergency Loan Program
Provides conditional emergency loans to help finance home repair.
You can download an application and get more information from their
web site, http://www.cityofboston.gov/dnd/A_HomeWorks.asp
Other HomeWorks Resources
The HomeWorks web site also offers a workshop schedule and a fantastic
Home Improvement Resource Directory, with links to contractor registration
information, home improvement tips, information on building permits,
and much more.
Why Do I Need A Building Permit?
From City of Boston’s Inspectional Services Department,
http://www.cityofboston.gov/isd/BOA/bldgpermit.asp
Building permits are necessary to ensure that the work to be done
is designed and constructed in accordance with the Massachusetts
State Building Code and the City of Boston Zoning Code. These codes
exist to protect the safety and well being of the people of the
City of Boston.
You need a building permit if you:
• Build a new building or structure
• Build an addition to a building or structure
• Repair, renovate or demolish a building or structure
• Change the use and occupancy of a building or a parcel of
land
• Change or remove any required means of exiting a building
You need an electrical, sprinkler or plumbing/ gas permit if you
install or repair any equipment of fixtures covered by the State
Building, Plumbing, Gas or Electrical codes
NOTE: Only licensed plumbing, gas, sprinkler or electrical contractors
can apply for these permits.
You do not need a building permit for ordinary repairs such as
wall papering, sanding, interior or exterior painting or carpet
installation; however you may need historical approval.
NOTE: You may need historical approval if you live in an area that
has been deemed historical. Contact the Landmarks Commission for
further information, 617.635.3850.
For more answers to common questions about permits in the City
of Boston, read the Citizen’s Guide to Getting a Building Permit,
http://www.cityofboston.gov/isd/BOA/bldgpermit.asp.
Paint Your Home in 2004!
No renovation project gives you more “bang for your buck”
than putting on a new coat of paint. “For 2004 contrast hot,
pungent colors such as magentas, marigold and turquoise against
warm, soft colors of celadon and pale golden straw,” says Gregory
Cann, an interior designer frequently featured in the Boston Globe
(1.866.350.CANN; look for his website, www.canndesign.net
in early March).
Here is a great online resource for paint colors and techniques:
http://www.benjaminmoore.com
Benjamin Moore offers an online Personal Color Viewer, which allows
you “virtually paint” a variety of sample images with
the entire line of Benjamin Moore paints. Color selections can be
saved to your personal Project Notebook.
Other good options are the Behr web site, http://www.behr.com,
and the Sherwin-Williams web site, http://sherwin-williams.com/diy/interior/paint/default.asp
Home Improvement Web Sites
Want to tackle projects yourself? Need advice from the pros? Not
sure where to start? If you have a computer and a connection to
the Internet, start by pointing and clicking. There are many strong
online resources that are full of useful (and free) information.
Here are some easy-to-use, well-organized sites that we like:
www.thisoldhouse.com
www.homedepot.com
www.hometime.com
www.diynet.com
www.bobvila.com
Don’t Throw it Away -- Donate!
Building Materials Resource Center
www.bostonbmrc.org
100 Terrace Street, Roxbury 617.442.8917
The Building Materials Resource Center is a nonprofit building
materials re-use project. They accept donations of good quality
used and surplus building materials and sell them to the public
at low prices. In addition, low and moderate-income customers and
nonprofits are eligible for a considerable discount on those prices.
The BMRC also offers a wide range of homeowner support services,
including home improvement classes, in-home consults, a do-it-yourself
window repair shop, and much more.
Anyone may donate materials to the Building Materials Resource
Center: individuals, contractors, lumber yards, manufacturers, corporations,
universities, and so on. If you have good quality used and/or surplus
building materials you would like to donate, call them at 617.442.8917,
or email them at info@bbmc.com.
Need a Contractor but Don’t
Know Who to Call? Ask Us!
Just as we operate our business primarily by referral, we are a
resource for recommending local and skilled tradespeople. Call us:
Constance Cervone - 617.796.8607
Janet Deegan - 617.796.8601
Download a PDF version of the original newsletter is available
here.
Hot Trends in Home Remodeling
2003 Cost vs. Value Report
Need some financial help for your renovation projects?
Call Boston HomeWorks
Why Do I Need A Building Permit?
Paint Your Home in 2004!
Home Improvement Web Sites
Don't Throw It Away - Donate!
Need a Contractor but Don't Know Who to
Call? Ask us!
Upcoming Local Home Shows
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