You bought a home. You wish to align it with your personal taste. Naturally, you will start looking for ideas or tips to renovate your abode. But hang on! If you renovate your home with an intent to sell, these home improvements might land you in some trouble.
No, we are not saying you shouldn’t go for any home improvement measures. We are trying to inform you that if you don’t pay any heed to do it right when it comes to renovations, it might severely impact your return on investment.
The real estate experts often advise homeowners to never go for costly upgrades that might leave them hanging if they are in a hurry to sell house fast. In this article, you’ll find some specific home renovations that might bring down your home resale value.
Over-the-Top Kitchen Renovations
The kitchen is the place where anyone spends the most waking hours. This is why it is the most desirable part of a home and the most crucial area for homebuyers to base their decision on. But if you spend too much on a kitchen renovation, it might impact your home selling process in many ways.
For instance, a high-end kitchen might not be something appealing for home buyers. What if they want something minimalistic? So, try and go for a theme for your kitchen instead of going over-the-top, or else this mismatch might hurt your resale value a lot.
Fully Converting a Space Into a Room For Another Use
So, you want a gym or wish to start a home business? Great! But it is not a good idea to entirely convert a room or your garage space into it. It is a more critical factor to consider if it includes removing closets or extra storage space.
Remember, when a buyer looks for a home, they often consider the number of rooms before deciding. So, if your house has one less room, it might be a cause of concern for some buyers.
Also, many buyers prefer garages, especially in areas where weather conditions are bad or have limited parking space.
Those funky wallpapers or out-of-the-box ideas to create textured walls and quirky tiling won’t help you in any way if you can’t attract potential buyers to your home. Features like built-in aquariums or expensive electric fixtures might be something you want, but will that be an excellent feature for a buyer? You can’t ever predict it.
The cost of maintenance or replacing these fixtures alone makes the buyers hesitant towards your property. So, if they like your home, they might want to reduce the cost since they don’t require such things in their house and have to go for replacements. That won’t do any good to you.
Opting For Carpeting Instead of Unusual Flooring Materials
If you wish to increase your house’s curb appeal, sometimes you might think of replacing the floors. But if you go for carpets instead of hard surfaces like wood or tile, it might turn off your potential buyers.
You can search online for the type of amenities or upgrades that would be beneficial for you when you start listing your home for the selling process. But why go through all this hassle when you can sell a house fast with the help of home buying companies that take care of all the renovations and repairs.
Bright/ Bold Paint Colors
Repainting a home is an easy fix to put your home on the market. And albeit it is an important deciding factor. However, if you opt for bold paint colors, it might put off many potential buyers. This is why experts recommend choosing neutral colors when painting your home.
It will act as a blank canvas enabling buyers to envision the home in their style. Contrary to this, bright colors won’t always be too welcoming, thereby reducing the overall resale value of your home.
Also, don’t go for hefty repairs or renovations just before you wish to put your house on the market. Instead, take help from home buying companies rather than listing agents if you are in a hurry to sell the house fast since they will take care of repairs or renovations by themselves. Won’t that be amazing?
Adding Pool Area
When it comes to pools, everyone is like, “Who doesn’t like a home with pools?” Well! For your information, these pools are expensive to install; their maintenance is quite costly as well. Moreover, it presents itself as a safety hazard for many families.
So, if you are thinking of adding this area, remember you might not be able to recoup its cost when selling. Make this decision only when you want to use the property for years to come. However, if you bought the property with an intent to sell, this won’t be a good addition at all.
Including Wine Cellars
Well! If you are going to stay in this house for years to come. Adding a wine cellar would be a great feature. But if you are going to sell soon and if you are in a job that requires you to change location after every few years, this would be a costly affair. It won’t matter even if you are a passionate wine connoisseur.
Definitely, this addition will add elegance to your home, but it won’t increase the value of your home. Let’s be a little practical. Not everyone wants this addition.
In The End- Let’s Remember That Not All Home Renovations Add Value
Always consider your selling timeline before you start planning and preparing for your next home renovation project. If you plan to sell shortly, it won’t be a good idea to spruce up the place. Hopefully, the tips mentioned above will help you avoid costly renovations if you intend to sell the home. Alternatively, talk to the home buying companies and see what you need to do to increase the value and marketability of your abode.
It would be fine if you plan to stay. In that case, these home improvements will bring joy if not add any significant value. Always consider the expert suggestions before investing in these costly home improvement/remodeling ideas.