Westfield Homeowner Tips Archives - Luxury Homes/Top Towns

Winter Storm Safety Tips for Your Home

January 17, 2022 by Scott Gleason

This weekend’s storm is just the latest of many that the Westfield area experiences this time of year. Most likely, it will not be the last. So, when the weather eases up, you might want to follow these winter storm safety tips for your home to survive during the next big weather event we see.

With winter weather ramping up in Union County, these winter storm safety tips may help you get through the next big weather event.

Winter Storm Safety Tips for Your Home

Carbon Monoxide – The Silent Killer

Some Union County homeowners keep a generator on hand for rough winter weather. That is smart. However, do not run these generators in your home. These generators emit carbon monoxide gases. Since they are both odorless and nearly invisible, they may easily fill up a room before anyone notices. Even generators placed directly outside of the home may allow dangerous gases to invade inside. Follow the directions from the manufacturer as to the safe placement and operation of your generator.

Another way carbon monoxide kills is from your car’s emissions. Even if you open your garage door before you start up your car, idling builds up deadly carbon monoxide inside. In attached garages, these gases could invade your home as well. Therefore, the safest way to warm up your vehicle before you leave is to move it completely out of the garage before starting it up.

Using Alternative Light Sources

Another winter storm safety tip to follow is in regards to using alternative light sources. If the electricity goes out, you might choose to light candles or use kerosene lamps. When you do, make sure to set them on a flat surface away from flammable materials. Never leave a burning candle or kerosene lamp unattended. And always keep them out of reach of children and pets.

Insulate Your Windows and Doors

Keeping the cold winter air out of your Westfield area home is crucial, especially during a winter storm. Check your windows for drafts. Replace cracked or dried caulking. If you can see light shine through your exterior doors, that means the freezing air can easily come inside. Sometimes, simply adding a door sweep may be enough. However, you may also need to add some weatherstripping along the door jambs to completely seal it.

Trim Those Trees

Wild winds and heavy snowfall can damage trees. In turn, this could mean trouble for your home. You want to keep at least a three-foot “tree-free” perimeter around your home. This includes the tree’s branches. Otherwise, you run the risk of a heavy branch falling on your home and causing serious damage.

Keep Gutters Clear

Before and after every winter storm, check the gutters and downspouts for debris or ice build-up. Ice dams form quickly. These dams prevent water from draining properly. Stagnant water tends to damage roofs and walls.

Check the Roof

My final winter storm safety tip is to check the roof. Look for signs of damage. These include rust or cracking in the flashing, shingles that are either missing, broken, buckled, or curling, and cracked rubber around the vent pipes. You might be able to repair the shingles or flashing. But it is best to leave most roof repairs in the hands of a professional.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Tax Deductions for Westfield Home Sellers

March 13, 2020 by Scott Gleason

We have about a month left before the 2020 tax filing deadline. Currently, that is Wednesday, April 15th. However, in a recent address to the nation, President Trump announced that he would be allowing an extension for some “individuals and businesses negatively impacted” by COVID-19. Specifics about who qualifies for an extension and how long that extension will be are still forthcoming. Meanwhile, anyone who sold their Westfield home last year may be entitled to certain tax deductions and exemptions.

If you sold your Westfield home last year, you could be entitled to a few tax deductions and an exemption when you file your taxes this year.

Westfield Home Seller Tax Deductions

Selling Costs

Any costs associated with the actual sale of your home (legal fees, escrow fees, commissions, etc.) can be deducted from your taxes. These should all be included in your closing statement. However, you need to have used that Westfield home as your primary residence for at least two of the past five years.

Home Improvements/Repairs

Did you need to paint, replace window screens, fix broken windows or do anything else to make your Westfield home more marketable? Those costs could be tax deductible. However, these improvements/repairs must have taken place no later than 90 days from close of escrow. Otherwise, they are not deductible.

Property Taxes

When you are a homeowner, you get to claim up any property taxes you paid as a deduction (up to $10,000). The same holds true for when you sell your house. Anything you paid up until the time of close may be deductible up to $10,000.

Mortgage Interest

Just like property taxes, any mortgage interest you pay before closing may be deducted. Before December 15, 2017, homeowners could claim all mortgage interest paid up to $1 million of mortgage debt. After that, a new tax code went into effect that put a cap at $750,000 of mortgage debt. So, if you purchased a home or refinanced after that debt, you must adhere to the new tax code rules. Both property taxes and mortgage interest deductions must be itemized in order to claim them. So, to make them worth your while, the total should be more than your standard deduction. To determine whether or not to itemize, discuss this with your tax advisor, attorney or preparer.

Capital Gains Tax

When you sell your Westfield home, you are subject to a capital gains tax on your net profit. However, the first $250,000 (single) or $500,000 (married couples) of that profit is exempt from this tax. Again, you need to have utilized the property as your primary residence for at least two of the last five years to qualify for the entire exemption. If you sell it within two years of purchasing it, you might be entitled to a percentage of the total.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Best Home Improvement Projects for the Money

October 19, 2018 by Scott Gleason

Your home is a major investment of your time and money. Most likely, you’re going to want to make a few changes while you own it. Some projects you’ll do because they improve your lifestyle. Other projects you do because they improve your home’s value. Here are some of the best home improvement projects for the money.

Best Home Improvement Projects for the Money

Replace the Roof

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Does your roof look a little worse for wear? Replacing it costs about $7500 on average. But your ROI runs around 109%, making it the best home improvement project you can do. As time goes on, however, that ROI lessens (due to wear and tear on the roof itself). Whether you plan on selling your Westfield home soon or want to live there indefinitely, you need a good roof over your head to protect you from the elements. So, this is always a good investment.

Plant Some Trees

Trees provide shade in the summer and protection against harsh winter weather. They also help the environment and make your Westfield home look more appealing. But did you know that they’re one of the best home improvement projects you can find? At 100% ROI, they’re well worth the investment. Be careful with which trees you plant. Keep them far enough from the house so that the roots don’t hurt your foundation. Consult with professionals at your local nursery to find out which trees work best and where to plant them.

Wood Flooring

Another one of the best home improvement projects Westfield homeowners should consider is replacing your old flooring with new wood floors. Carpet in the bedrooms and tile in the bathrooms is fine. But today’s home buyers want to see beautiful hardwood floors everywhere else. The cost of materials and installation runs around $10-$15 per square foot. However, your ROI comes in at 91%. If your home currently features hardwood floors that look a little worn out, save some money by refinishing them instead of replacing them. That bumps your ROI up to 100%.

Replace the Garage Door

One of the most underlooked home improvement projects that offers an excellent ROI (87%) is replacing the garage door. Not only is it a minimal cost to install (around $2300 on average), it takes a short amount of time to complete and can totally change the look of your home right away. This also becomes an energy efficient feature when you install an insulated garage door.

Add an Outdoor Kitchen

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Do you love your summer barbecues? Many people do. Another one of the best home improvement projects for the money is adding an outdoor kitchen/grilling station. A $14,000 investment offers a 71% ROI. Charcoal or gas grills cost less than an electric grill. If you keep your outdoor kitchen near your indoor kitchen, you can use the plumbing from there instead of running it out to an area further away. This helps reduce costs and increase your ROI.

Basement Conversion

Basements are very popular here in the Westfield real estate market. They create extra living space. You get to mold it to fit with your family’s lifestyle. As far as being one of the best home improvement projects for the money? Not so much. The cost to finish your basement and convert it into usable space runs around $40,000. If you plan on adding a bathroom or wet bar, you’re looking at much more. The ROI comes in at around 63%. So, if you want to do this, go ahead. Get creative. Just don’t expect to recoup all your costs when you sell your home.

Indoor Kitchen Remodel

One of the most popular home improvement projects actually offers the least ROI (62%) out of all the projects on my list. On average, you’re looking at around $65,000 to completely overhaul an outdated kitchen. Even so, if you want to sell your property in today’s Westfield luxury market, you’re going to need to bring your kitchen up to date. One way to keep remodeling costs to a minimum is to keep the same footprint as the original kitchen, ie, don’t move the plumbing or electrical. If your cabinets are in good shape, sand them down and refinish them instead of replacing them with new ones. Doing the demo work and painting yourself also shaves some money off the costs of remodeling.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Managing Your New Home Construction in Westfield

September 14, 2018 by Scott Gleason

New home construction in the Westfield luxury real estate market is a hot commodity. Many buyers want to completely customize their home without the hassle of a messy remodel. A new home build allows them to do that. To avoid problems and reduce your stress, follow these tips for managing your new home construction in Westfield.

Managing Your New Home Construction in Westfield

Only the Best Will Do

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When building a luxury new home, don’t skimp on the construction firm you hire. Just because they cost the most doesn’t necessarily mean they’re the best, though. Check their credentials. Ask to see photographs of their most recent projects. Talk to several firms before you decide which one to hire for your new home construction in Westfield.

Create Your Wish List

Setting your ideas down on paper helps both you and your contractor envision the completed project. How many square feet do you want your Westfield home to encompass? How many bedrooms and bathrooms do you need? Do you entertain? If so, a finished basement or large family room might be in order. What types of finishes do you want? Are high ceilings important? Think about your lifestyle and incorporate it all into what you want in your new home construction. Don’t leave anything out. You can always scale back if needed.

Hire a Construction Manager

The best crews run well with someone overseeing them. You can’t be there every day. To keep your new home construction running smoothly, you’ll need to utilize construction management services. They help keep things running on time and on budget. Interview several companies before settling on one.

Look Around

Finally, look at other new home construction projects going on in the Westfield luxury market. Visit recently completed homes to see the latest innovations in home construction and finishes. Home builds constantly change and evolve with the times. It’s a good idea to see what’s happening right now. You might find something you want to include in your new home. On the flip side, you might also see something that you know you definitely want to avoid in your own home’s construction.

Building a Westfield luxury home takes time and patience. Hiring the right people to conduct and oversee your new home construction eliminates a lot of stress on you. A little homework goes a long way. Good luck with your new build. Contact me if you have any questions.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes

Westfield Home Renovation Tip: “Must Keep” Original Features

June 8, 2018 by Scott Gleason

New construction is a hot commodity in the luxury Westfield marketplace. To keep up with newly built homes, many homeowners opt to renovate their older home before they sell. Tearing down walls to create a more open floor plan and updating the kitchen for today’s modern lifestyle may be a great idea. But don’t get rid of everything. Today’s Westfield home renovation tip is important for owners of older homes. Some of the features original to your house should never be thrown out, covered up or replaced unless they are absolutely beyond repair.

Westfield Home Renovation Tip: “Must Keep” Original Features

Hardwood Floors

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Buyers love to see these two words when looking at a Westfield home: original hardwoods. Modern construction rarely incorporates traditional hardwood flooring anymore. When ripping up your carpet or tearing into the linoleum in the kitchen, check to see if you have original hardwood flooring underneath. If they’re in good shape, you simply need to sand them down and stain them to restore them to their original beauty. Oftentimes, it’s worth the time and money involved to fix damaged hardwood floors instead of replacing them with new flooring. Consult your contractor for the costs. Then, talk to your Westfield REALTOR® about whether they believe the cost is worth it when it comes time to sell.

Fireplace

Fireplaces create beautiful focal points in most rooms. For older Westfield homes, in particular, this proves especially true. First, have the chimney and flue inspected by a professional to make sure they work properly. Soap and water work well to clean up a stone surround. But a wooden mantel requires a more delicate touch. Sand it down before applying a fresh stain or coat of paint. Pay special attention to any original detailing. Even a non-functioning fireplace can still be a focal point after you restore its appearance. Set candles inside instead of logs once you’ve finished renovating it.

Hardware

Finally, never throw out your Westfield home’s original hardware. Old fashioned doorknobs, drawer pulls, and even light fixtures can be repurposed into modern design schemes. In fact, many buyers want to see original pieces like this included in an older home. They don’t necessarily have to be put back in their original locations, though. Kitchen pulls can be incorporated into the master bathroom. Exterior doorknobs can be used on the pantry door, linen closet or master bedroom door. And light fixtures can be moved to just about anywhere in your home.

You’ve heard the saying “they just don’t make them like they used to”. Well, it’s true. They don’t. If you plan on doing a home renovation on your older Westfield property, try to keep the original features listed above as part of the new design. Create something beautiful by marrying the old with the new. Buyers will love it.

Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes