Home Renovations That Can Damage Your House Value
Don’t get too excited when planning out renovations for that latest property that you bought! Instead of making your house more attractive to potential buyers, you might actually be hurting your house’s value with all those supposed improvements. This happens if you overly personalize or customize your home. There is no guarantee that you will find a buyer who has exactly the same taste and interests as you. What could be useful for you may be uncomfortable and impractical to others. The key in achieving attractive home improvements that other people will appreciate is to keep things simple, low-key and neutral. Also consider your property’s location and environment.
For more in-depth home improvement tips, browse through the list of home renovations to avoid if you want to keep your property appealing to interested buyers.
- (1) Avoid anything too loud and extravagant like too many wallpapers and fancy light fixtures. Decorative elements such as over-the-top chandeliers and too many wall papers are all a matter of taste. Some people like them, while some people don’t. If you must upgrade your lights, make sure that you combine practicality and efficiency. Not everyone will appreciate antique chandeliers even if they make a room look really fancy. Opt for functional pieces that improve the actual lighting situation in the room. The same is true for wallpapers. Wall decor is really subjective, and buyers may see it as a nuisance to remove excessive wallpapering if they prefer a more laid-back and toned down look for their interiors. It is best to keep walls simple, as this gives buyers the option to leave them as they are or jazz them up a bit according to their own preference. If you want to upgrade your walls, simply apply a fresh coat of paint in a neutral color.
- (2) Avoid customized tiling. Wanting to improve your house’s floor isn’t a bad idea at all, but practice restraint just as you would when it comes to lighting fixtures and wallpapers. Customized tiles are difficult and costly to remove and replace, and buyers who do not have the same sense of style as you may be turned off by this. Tiles that go by are a certain theme or color need a specific audience, and not everybody can buy into that especially those who are looking into moving in as soon as possible. A beautiful rug on simple and clean floor tiles are more likely to win over a buyer.
- (3) Avoid a full kitchen upgrade.You might be tempted to impress buyers with a spanking new kitchen that is fully upgraded with the latest equipment and gadgets. However, according to the 2017 Cost vs. Value report by Remodeling Magazine, kitchen remodels are expensive but don’t really generate a bigger return on investment. According to most real estate experts, they use “curb appeal” or the outside aesthetics of a house when they advertise to their customers instead of highlighting improvements inside the house such as the kitchen. The best thing to do when you want to improve the kitchen is to select which parts are broken and should be fixed or replaced. Just concentrate on the important stuff, so you’ll be able to impress buyers more and get more value back for what you spent.
- (4) Avoid converting a bedroom into an office space or merging two small bedrooms into one. Additional sleeping space is always attractive to buyers, so think twice before touching that extra bedroom. It will always depend on the location, area demographic, and type of buyer that you want to attract: is it a young couple with no kids or a family of five. If your property is located near a university, you might be looking at a student who wants to rent out the extra rooms to other students. If you do decide to convert the bedroom into something else, do away with bulky storage cabinets and other drastic changes that will make it costly to revert it back into a sleeping space.
- To make successful house renovation, keep it simple and focused to the immediate needs of your potential buyer. Do not choose anything that is too wild and crazy for a typical house buyer, or else you’ll have difficulty in selling your property. Make your house presentable and functional, replace anything that is broken, and improve areas that do not seem to have a purpose while still leaving the prospective owner to add his own touch. It is best to ask the assistance of a real estate expert or property guardian for advice and guidance on renovating your property.
Joanne Davidson is a seasoned writer who enjoys creating helpful articles and interesting stories. She has worked with several clients across different industries such as advertising, online marketing, technology, healthcare, family matters, and more. She is also an aspiring entrepreneur who is engaged in assisting other aspiring entrepreneurs helping property owners who encounter problems with the vacancy of their buildings.
Check out her company here: http://loweguardians.com/
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