Home renovations are incredibly tempting to homeowners, especially when they intend to sell their homes. Naturally, they want to do everything they can to increase the value of their home and boost their chances of selling. And sometimes home renovations will do precisely that, but not always. So this has to be done carefully because some home renovations will hurt your home value. Some people would rather buy your house as is. And you should do the research and look into what renovations you should and shouldn’t do. This article will hopefully help you navigate the challenging journey of home renovations.
These are home renovations that will hurt your home value
- Expensive kitchen renovations
- Too many carpets
- Home theater
- Big bedrooms
- Excessive landscaping
Skip expensive kitchen renovations
Kitchens are the first thing people decide to renovate. But they probably shouldn’t. Renovating a kitchen is incredibly expensive, especially if you want to make a new and luxurious kitchen. But things like new countertops, appliances, and new floors cost a lot of money. And though it may seem like that will make your home more appealing to potential buyers, that’s not exactly the case. According to research, you rarely get your money back in resale value. You get approximately 59% of your money back. That’s a significant loss financially. So you should skip big kitchen upgrades altogether. The best thing to do is make sure the plumbing and electricity in your current kitchen work properly. Potential buyers will appreciate that more.
Too many carpets are a waste of money
Carpets are not the direction to go in when renovating your home. First, it is much better to invest in good new hardwood floors. They look better and are of higher quality. On the other hand, carpets can be expensive as well but can get damaged a lot quicker than hardwood floors. Also, you will choose carpets based on your own taste, but that doesn’t necessarily mean that potential buyers will like them. So it’s not likely they will want to pay extra money for something they don’t like. That means you will have to take your carpets with you even if you sell your home. And sometimes that will require moving and packing on short notice. And it’s really hard to do this quickly when you have lots of carpets to drag along with you.
Wallpapers are a mistake
The problem with wallpapers is similar to the one with carpets. There is a big chance that your taste in wallpaper won’t match the taste of someone who is looking to buy your home. So they probably will not want to pay extra for something they dislike and something they will probably want to remove as soon as they get in the house. So you should probably skip wallpapers. Instead, the best thing to do is freshly paint the house. And choose neutral colors, nothing too extravagant. That way, there is a higher chance some potential buyers will like it.
A big no on the home theater
Home theater sounds like a great idea in the beginning. But when you stop and think about it for a second, you will see all the problems that go with it. First, not everybody is so much into movies that they are willing to buy a house with a home theater. They will probably think it’s overpriced. Not to mention how expensive setting up the home theater is. Second, people would probably rather decide on their own if they want to turn a spare room into a home theater or into something else. That way, you are taking that choice away from them.
You shouldn’t do big bedroom renovations. Many people merge two rooms into one big one. But it is better to leave that choice to new owners. Maybe they want to have one spare room. Also, don’t decorate the bedroom too much. Bedrooms are the most personal rooms in the house. Leave them as neutral as you can. New owners will decorate the room to their liking. And according to heartmoving.us experts, people usually bring all the bedroom things from their old home into a new one. They find them personal and sentimental, and they like to keep them. Also, bedroom renovations are pricey, and chances are not high that you will get your money back in resale value.
Pools are too much work
Probably the most expensive renovations you can undertake. Pools are definitely home renovations that will hurt your home value. You would need a lot of money to pull it off, not to mention time and effort. And at the end of the day, it would not be worth it. Research has shown many people think that the pool is not the most appealing part of a house. Instead, they see something that is spiking up the house price and something that will require a lot of work. This is true since pools, other than being expensive, also require regular maintenance. Making sure the water is clean, changing the filters, checking for algae and bacteria, shocking the pool, etc. All of that is tiring and not to mention expensive.
You will have to spend a lot of money hiring someone to do professional landscaping, especially if you have a big backyard. And you never get your money’s worth in resale value. Because potential buyers don’t see a big beautiful yard, they see a huge commitment. It’s the same as with the pool. Buyers see something they are going to have to maintain and invest in. And most people simply want to avoid that.
Well, these were home renovations that will hurt your home value. You would be wise to skip them. But the best way to know what to do is to research the market. See what other people are offering and what’s appealing to buyers now. Try to avoid something that will be a huge commitment (like a pool, for example), and make sure you don’t go overboard with decorations.