Yes it's finally here, the Annual Pueblo Association of Home Builder's, Parade of Homes. It's time to be the proverbial Looky Loo, and go see all the new homes! 

As an appraiser / broker, I'm often asked what adds value to a home. Here are a few things to consider while visiting these new model homes. Today's modern floor plans should be very flexible in terms of the types of occupants that can comfortably inhabit the home. The core family has been changing for several years now, the "Baby Boomers" are getting older, and people are in general living longer. The make up of a modern day family, often includes a grandparent or two, a son in law or daughter in law and even grandkids living in the grandparent's home. So homes that can accommodate these flexible family units have a much greater market appeal!  That should translate into shorter days on market and a higher value for both the builder and the reseller.

Another popular trend in housing these days is more emphasis is being placed on spaces that transition from the inside to the outside. Porches, patios and decks are getting larger, more functional and utilize all kinds of new materials. They often have large windows and glass doors that are movable and can moved or opened to accomindate changing weather conditions and be used year round, this is cool stuff!   Televisions shows, networks such as Home and Garden TV, large retailers and home centers are bombarding the consumer with advertising for these areas. The Home Centers are packed full of new types of materials and appliances to create these new spaces.  I don't see this as a fad, and we have a very good climate here in Pueblo, Colorado, where home owners can easily use transitional areas nine months of year or more. Why not take advantage of it?  Having good transitional areas make sense for all price ranges from entry level homes to the very high end ones if done appropriately.

 Home buyers should look for homes that have consistent quality throughout the home. Putting very high end quality cabinets and fixtures in just the kitchen of what is just otherwise an average quality home is not a good investment.  It is what we appraiser's often call an over improvement or that it is super adequate item.  Also, adding things like over the top "premium" landscaping in a neighborhood of just typical landscaping will not yield a dollar for dollar return on your investment either.  Over improving a single element of a home with respect to other elements of a home is not a good financial decision for either a builder or a home owner doing remodeling and upgrading of a home, although I see it happen all the time. Use a balanced attack when upgrading a home to maximize your investment.

Enjoy the parade again this year, the builder's, brokers and Pueblo Home Builder's Association staff went to a lot of effort to make it successful.  

-Kent