Feb. 10, 2022
You’ll want to think twice before implementing these renovations on a home that you plan on selling soon:
A swimming pool is a poor investment in most locations. Homebuyers who do not want to deal with the extra maintenance and cost of a pool will consider this a deal-breaker when looking at your home.
Instead, find ways of making your yard a versatile outdoor living space.
Matters of Personal Taste
Most people want to be able to nest completely in their home.
They might want their living space to fully reflect their personality. If you’re sure that your home will be your forever home, then certainly throw all your quirks and luxury renovations into it.
However, if you think that you’ll need to sell your home at some point, either to upgrade, relocate, or for another change of life circumstance, then leave your personal decorating choices relatively temporary.
– Using too much wallpaper, which most potential homeowners consider difficult and laborious to remove. Instead, choose paint, which is easy to tone down to neutral colors before moving.
– Installing quirky tile that requires money and effort to remove or replace. Instead, opt for white tile and a quirky rug that suits your tastes.
– Textured walls and ceilings are difficult and expensive to remove and can be difficult to paint over. Consider using interior design ideas such as canvas art and floating shelves instead to add texture to your walls.
– Lavish lighting fixtures such as chandeliers may become outdated very quickly. Instead, consider skylights or sun tubes.
– Too Much Carpeting: Carpets stain easily and hold odors. There are a lot of homebuyers who are uncomfortable with the idea of using the same carpets as strangers who had previously lived there. Instead, 54 percent of homeowners are willing to pay more for hardwood floors. The ROI for hardwood and faux-hardwood flooring fluctuates between 70-80 percent. You can also use all the rugs you want over your hardwood floors without hurting your home’s ability to get sold.
– Ornate features may be a red flag to many homebuyers. The current homebuyer wants a low-maintenance experience to start with. Instead of ornate features, choose contemporary, pared-down, and minimalist styles that emphasize efficiency. You could also consider getting
to spruce up a room that you can take with you when you move.
It’s best not to put in hi-tech features just for the purpose of selling your home, as these features quickly become outdated. Buyers generally want to furnish their home with their own tech. For example, homeowners have reported an 80 percent loss on investments in technologies such as fully wired audio and visual systems, since wireless technology now controls the market.
Instead, invest in some smart tech that does add value, such as a programmable thermostat and hi-tech door locks and security systems.
Be aware of pigeon-holing rooms.
It’s common for individuals who work remotely to set up home offices in the spare bedroom. Similarly, empty nesters will often turn an old kids’ bedroom into a hobby room or workshop.
The home office is a great investment when if it helps to pay the mortgage, and that craft room makes it a lot easier to spread your wings artistically. Yet when it comes time to sell the house, your craft room might be another person’s nursery, so make sure that the rooms appear to buyers to be as flexible as possible.
Garage conversions can be risky.
Many people expect to use their garages as garages. Conversions such as turning your garage into a personal gym, spare bedroom, home office, or full workshop can enhance your lifestyle, but make sure that these conversions are reversible when it comes time to sell, or it could be a potential deal-breaker to homebuyers.
It’s also not a good idea to combine bedrooms to make larger spaces.
Square-footage isn’t the only key to a home’s value. The more rooms your home has, the more it will be able to sell for. That being said, no matter what renovation you’re working on, it’s never a good idea to remove a closet. Closets are one of the first things that potential buyers check for when walking through a home. Many buyers consider a lack of closets a deal-breaker. If you are trying to create more space in a room, the closets should be the last things that you remove.
In the long-run, modernization, replacements, and upgrades will benefit your own lifestyle while also making your home appealing to potential buyers. As open and flexible spaces are becoming a national trend, remember to keep your research local, the outside of your home clean, and invest in the larger remodels that are best for you.