Many people renovate their home because they want to add value to it. However, there are a number of renovations that can actually hurt the resale value. Below are some of the home renovations that you may want to avoid making:
Many people think that luxury upgrades will add value to their home. On the contrary, this can hurt resale value. You should avoid doing anything that is too trendy. You want to keep it simple and in sync with the rest of your home.
Many people will have their garage converted into a family room. This is a big mistake because many people want to have a home with a garage. This is especially true if they want to purchase a home in the suburbs. Many people will not even look at a home unless it has a garage. Therefore, you will isolate a lot of homeowners if you convert the garage into a bedroom.
Many people are converting their extra bedrooms into extended master closets or home offices. If you have already converted an extra bedroom in your home, then you want to make sure that you convert it back before you put it on the market. A converted bedroom can deter a potential homebuyer. He or she will be calculating the amount of money needed to convert the closet or office back into a bedroom.
Many people who are looking for homes in the suburbs also have families, so they will prefer to have that extra bedroom. Therefore, if you are thinking about selling your home within the next few years, then you should not convert the bedroom into a closet or office.
Making It Too Personal
Your home is a place where you will be spending a lot of time. That is why it is natural to want to personalize it. However, you may turn off a lot of potential buyers if you add too many personalized fixtures, colors, finishes and paint jobs. Potential buyers may think that your home needs an upgrade, which can be very costly. When you are renovating your home, you should stick to neutral finishes, colors and fixtures.
Adding A Swimming Pool
A swimming pool does make a nice addition to your home. If you are living in an area that is very warm, then the benefits of having a pool will most likely outweigh the costs. However, maintaining a pool can be quite costly. That is why you may turn off potential homebuyers if you add a pool. A pool can also be a huge liability for people who have young children. If you live in a place where it is only warm a couple of months out of the year, then you should think twice about adding a pool.
Resale value is extremely important because the average homeowner only spends five to seven years in his or her home. You have to think like a buyer when you are trying to sell your house. That is why there are some renovations you will need to avoid making. You should think twice about making luxury upgrades and converting your garage or bedroom. You also want to avoid adding too many personalized touches to your home. Furthermore, you do not want to add a pool unless you live in a place where it is warm year round.
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