Are Barn Doors Here To Stay?

WRITTEN BY JAYMI NACIRI

If it seems like what was dismissed as a flash-in-the-pan trend has stuck around a lot longer than many of us predicted, you’re right. Barn doors are now becoming a staple in homes from new construction to renovations for their unique appeal and space-saving properties. If the word “barn” is turning you off, rest assured that there are a variety of styles that can bring a fresh look to your home along with new function. Not only that, barn doors can also bring increased value – important if you’re thinking of selling your home or just want to make smart renovations.

“It’s official: Barn doors are incredibly hip,” said Pro Remodeler. A recent study “found that these contemporary yet rustic sliding doors can help a home sell as many as 57 days faster and at a higher price point. The study analyzed descriptions on the listings of more than 2 million homes sold between January 2014 and March 2016 to see how certain keywords affect a home’s sale. Of all the terms analyzed, ‘barn doors’ brought the highest premium, with homes whose listings mentioned this door type selling for an average of 13 percent above expected values.”

According to Google Trends, interest in barn doors “quadrupled between 2012 and 2017,” said Victoria Advocate. Another advantage of barn doors: they’re easy to install, and are even DIY friendly for the average person.

“In addition to their powerful visual appeal, barn doors can also be an effective way to partition open spaces,” said Pro Remodeler. “Many homes today have two larger rooms, such as the kitchen and living room, connected by a wide opening. While a barn door added to such spaces will likely stay open more often than not, it can act as the perfect feature to suggest spatial separation.”

 

 

 

These oversize, reclaimed wood barn doors look great in a commercial space, creating privacy for a conference room in the same way they would in a living space.

These more traditional doors set off a private living room.

 Black-framed, glass-paneled doors are on trend and bring a modern look to the space. Plus, you can close off the kitchen without losing light.

Instead of more traditional doors

A little bit rustic with contemporary flair, this barn door has some heft to it, which gives it a substantial feel and the size required to slide past a wide bathroom door opening

Steel is another material that is being used for barn doors, and one that brings in an industrial feel. In this space, a steel sliding door looks is the perfect choice to separate the living space from the bedroom.

 

 

This version looks like a decorative wall, but it’s actually a 12-foot barn door that slides away to reveal a hidden laundry room.

Beyond room-sized doors

Barn doors or even showing up in items like bathroom vanities, which are especially useful in a small space that might not allow for a swinging door.

They’re also being woven into furniture, like this entertainment unit.

 

The Do’s And Don’ts Of Tapping Your Rising Home Equity

If you bought a home recently, it may already have increased in value. Equity growth goes hand-in-hand with pride of ownership (and fun stuff like tax breaks) when it comes to homebuyer goals, so say a big, “Yay!”

“Nearly 91,000 homeowners regained equity in the first quarter of 2017, according to real estate data firm CoreLogic’s latest housing report, said Realtor.com. “Since the end of the most recent housing crisis, 9 million owners in total have regained equity, the report notes. About 63 percent of all homeowners have seen their equity increase since the first quarter of 2016, with the average owner gaining about $13,400 between then and the first quarter of 2017.” According to Frank Martell, president and CEO of CoreLogic, that’s the “largest increase since mid-2014.”

But, before you go making plans for all that equity, either by doing a cash-out refinance (if possible and prudent) or getting a home equity loan, take a pause. That money may be best left right where it is. If you still want to tap that equity, here are some of best – and worst – ways to use it.

Home renovations

When your home has equity, it can be tempting to use it for home renovations, which, presumably, will further raise your home value – or at least make your home prettier or more functional. Knowing which renovations pay you back is key to making smart choices. Review Remodeling magazine’s Cost vs. Value Report, which “compares average cost for 29 popular remodeling projects with the value those projects retain at resale in 99 U.S. markets.” You can then take your research further, viewing data for your regional area. This will help you decide if that $50,000 kitchen is a good investment, or if that attic renovation you were considering will be a bust from an ROI standpoint.

A new car

That fancy new car is calling your name, right? Does it make sense to use some of your home equity to finance or buy it outright? Ask yourself this: Is this a car you can’t afford without using your home equity? Can you afford to pay the difference in your current monthly payment and what will be your new payment – plus the monthly cost of the car?

“During the housing bubble, consumers used home equity borrowing to pay for everything from boats and gambling junkets (clearly bad) to cars and kitchen renovations (not so bad), said Interest.com. “The problems these homeowners experienced during the financial crisis and recession taught us that even some ‘not so bad’ spending should be scratched from our list of acceptable uses. So, while we used to say that financing a car with a HELOC was OK, we no longer believe that. Besides, auto loans are now one of the few types of consumer loans that are cheaper than home equity loans or lines of credit.”


Additions

Adding on to a home can be a great way to make it more livable, especially if the space is inadequate for your family. The Cost vs. Value Report can be useful here, too. You might be surprised to learn that a midrange bathroom addition typically only pays back an average of 53.9%. But, if you bought an older home that only has one bathroom, adding another could have a much higher ROI that makes the addition worth it.

When it comes to larger undertakings, “Studies show that nearly all of the cost of a mid-range two-story addition may be recovered at the time of sale,” said The Spruce. “The key here is ‘may be recovered,’ as there is no predicting the real estate market years in advance. While this might seem like a ‘no-brainer,’ it needs to be mentioned. More space means higher heating and cooling costs, more windows to wash and gutters to clean, increased property taxes, and more house to clean. Even though additions offer the potential for higher cost-value ratios than other renovation projects, you still may not recover the full cost of the addition when you actually sell.”

Vacation

That European cruise or trip to Machu Picchu sounds like a great idea, especially because you’ve got some cash to pay for it with the rising equity in your home. But consider this: You may be paying back the money you spend on that vacation long after you return home.

 

 

 

 

 

 

 

Written by Jaymi Naciri