From Dream Home Ideas
Homeowners looking to sell soon or sometime down the road often invest in home renovations to boost their home’s value for a resale. Some home improvements, however, can actually hurt your home’s value.
Sometimes, these home renovations are done particularly with a resale in mind. Other times, they’re simply done to suit a homeowner’s personal preferences. Either way, it’s important to keep your home’s resale value in mind, and do your research before investing in any home improvement updates.
If you want to increase your home’s value instead of hurting it, look at the top home renovations to avoid.
Lavish Lighting Fixtures
One common home improvement mistake is falling in love with unique or lavish light fixtures, said Alon Barzilay, founder of real estate development company Barzilay Development.
“Whether it be ceiling-mounted lights in a dining room or a hanging pendant, there is a psychological phenomenon that happens when you go to a lighting store… you’re going to pick something exciting and new instead of picking a new addition that suddenly matches the big picture,” Barzilay said.
Furthermore, the passage of trends works against homeowners. “Whatever is in vogue today will look dated 10 years down the road when you are ready to sell,” he added. “Simple is best. Fortunately, lighting can easily be switched out at a low cost.”
Too Much Wallpaper
With its patterns and texture, wallpaper can be an overwhelming design choice. Plus, it’s notoriously difficult to remove. Homebuyers might view wallpaper removal as a potential headache, and it could be the tipping point for someone who wants a more move-in ready home.
Fresh paint and neutral colors are always a good idea to help stage your home when it’s on the market. If you do have wallpaper, think about whether it’s beneficial to remove it and repaint the walls before any showings or open houses, so your potential buyers never have to think about it.
Texture On The Walls And Ceilings
Just like wallpaper, texture on walls and ceilings is difficult to remove. Simply knowing that a timely project lies ahead might cause homebuyers to decrease their offer.
Think twice before deciding on a fancy textured painting technique, and play around with textured wall décor instead.
Any over-personalized renovation can hurt the value of a home, especially something like tiling, which requires more effort and money to replace, according to Bob Gordon, Realtor and blogger at BoulderRealEstateNews.com.
“Many buyers like to upgrade the floors in their homes,” he said. “Adding tile or wood can make an improvement in value — unless you get that person that wants the 1950s diner look and installs black-and-white tile.
For their vision, this is the pinnacle of cool. But for a resale value, most homebuyers will see it as a distraction and something they will need to rip out.”
Instead, consider going with a traditional white tile floor, and buy a rug with the style you’re going for, he recommended.
Too Much Carpeting
Most homebuyers, 54 percent, are willing to pay more for a home with hardwood floors. Compared to hardwood and laminate floors, carpet can quickly show signs of damage.
Plus, colors and textures are highly based on personal preference, and any overly personal touches can decrease a home’s value.
Bright And Bold Paint Colors
Bright and bold paint colors can turn off any potential buyer who might lack a bit of vision. Fortunately, repainting a room before putting your home on the market is an easy fix, albeit an important one.
Choose neutral colors to present buyers with a blank canvas, which can help them envision the home in their own style, HGTV recommended.
An Extremely High-End Kitchen
The kitchen is often the heart of a home, and it’s a project many homeowners save up for. However, the resale value of a major, high-end kitchen remodel is actually less than what you’ll invest in it.
In 2015, the national average for a major kitchen remodel cost as much as $56,768, but the resale value was only $38,485, according to Remodeling.hw.net.
To avoid spending too much on a project that won’t give you a return on investment, try to focus on which aspects of the kitchen are most outdated or worn. And as tempting as it might be, consider selecting mid-range appliances rather than the expensive high-end options.
A Home Office Conversion
Thanks to improved technology, more professionals have the opportunity to work from home, and some might consider creating a dedicated home office space to get the job done. If the new office space was formerly a bedroom, this could be a costly mistake, according to Jamal Asskoumi, real estate agent and owner of homes listing website CastleSmart.com.
“A home office is usually a conversion from a bedroom,” he said. “This already is wrong. Never convert a bedroom into anything other than a bedroom. It will devalue your property immediately. Losing a bedroom could see a 10 percent [drop] in price.”
If you must use a bedroom space for a home office, be sure to avoid any bulky built-in desks or shelving units. That way, when it’s time to sell, you can easily stage the space back into a bedroom for potential buyers to see.
A Sunroom Addition
A sunroom can be a great space to enjoy the outdoors away from the elements, but according to Remodeling, a sunroom addition is one of the worst home renovations when it comes to return on investment.
In 2015, the national average mid-range sunroom addition cost $75,726 and only had a resale value of $36,704.
Think carefully about how often you’ll use a sunroom before committing to this costly renovation, especially if your home might be on the market anytime soon.
A Swimming Pool
Contrary to popular belief, a swimming pool addition is not the best way to add value to your home. In fact, according to HouseLogic, a swimming pool could increase a home’s value by only 7 percent at most — and that’s only in certain circumstances.
“Unless you live somewhere that’s hot at least six months out of the year, pools are generally more trouble than they’re worth,” said Davis. “The only people who really want them are families with a certain age range of children, so it limits the potential buyers.”
With the cost to build a pool, maintenance expenses and a very minor potential value increase, a swimming pool addition simply isn’t worth it for most homeowners.