Selling your home is risky. Some renovations can increase your home value, but you should be mindful of certain projects that can do the opposite. Here are some renovations that can hurt your home’s value and that you’ll want to avoid so that you get the highest return on your resale.
A swimming pool can be fun and exciting, but it’s a huge risk investment. Not all potential homebuyers are going to love a pool. When you factor in the chemicals and labor required to maintain it, yearly upkeep can cost thousands of dollars—and depending on where you live, you may only be able to use it a few months out of the year. Not to mention, pools are a danger to young children who can slip, fall, or possibly drown. Keep these financial and safety risks in mind when you’re considering installing a pool.
Too Much Customization
Your home should be your domain, but you shouldn’t customize it too much if you plan on selling it later. Too many new additions will detract possible buyers. Does the interior paint match your personality, or does it complement the house? Are any new additions specific to your style, or are they general enough for others? No matter what, you should feel comfortable in your home. Just keep in mind the possible adjustments you’ll have to make in order to sell it in the future.
Similarly, too many room conversions can also turn away prospective buyers. The tricky part to room conversions is that they depend on the buyer. Gyms, home theaters, finished basements, upgraded kitchens, or sunrooms could be attractive—but reducing the number of bedrooms could hinder your selling chances. Bedrooms and bathrooms are two of the most prioritized rooms for homebuyers. Changing the amount of these rooms or the layout of the garage or basement could immediately ruin buyer interest.
Not every improvement is a good improvement, but every improvement you do make should be well-executed. Poor-quality home renovations are easy to spot and extremely unattractive. For example, a poorly installed fireplace will look misaligned and weak. Be sure your home improvements are done well—in this case, for instance, you could use fireplace mantel brackets to secure your fireplace. These features will attract any buyer. Still, keep in mind that unattractive or poorly done projects will make your house look unappealing and decrease its value.
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