Thursday, October 3, 2013
Home renovations are a large part of owning a home. At some point a home improvement project is in every homeowner’s future. When considering upgrades to your home it is important to remember that not all renovations are created equally. Remodeling should help to increase your home’s resale value. However, others do just the opposite.
If you see yourself in the home for a period of time, of course, feel free to make use of the space how you see fit. The problem arises when homeowner’s know they are going to be selling in the next five years or so and don’t take into consideration the return on investment. If you are concerned with the resale value of your home here are a few renovations to avoid.
When buyers purchase a three bedroom home they want to see that the home has three bedrooms. Turning the space into anything else makes the bedroom seem short a bedroom.
If you decide to covert a bedroom into another space, for instance, a craft room, make sure when trying to sell the home you convert it back to a bedroom. Buyers need to see what is being described and the number of bedrooms your home offers is a major selling feature.
Installing a hot tub is also seen as a big turn off to buyers. Although a relaxing renovation for you, new owners have a preconceived notion related to hot tubs making used hot tubs undesirable. If you do plan on having a hot tub consider making it accessible as a non-permanent feature. Don’t build the hot tub into the deck but rather create a space that is the hot tubs alone so that when and if you sell your home it can easily be removed and taken with you.
Another fad that was popular for a while but is seen as a put off now is colored trim and textured walls. Yes, paint is an easy fix for the most part that is for walls but trim is another story. Trim is a lot of work to paint. The same is true for texture on walls and ceilings for that matter. It takes a lot of prep and laborious work to remove the texture and this can be a major drawback to sellers.
When it comes to children’s bedrooms, themed bedrooms are also major turn offs for future buyers. All money spent on a child’s bedroom that is anything above and beyond a classic, simple bedroom is wasted money. That mural, no one else wants it. Built in beds, bookshelves and dressers are not for everyone so don’t do these renovations thinking you will re coup the expense.
Landscaping renovations is another place homeowners can over do it. Landscaping is expensive and is seen as high-maintenance to buyers who aren’t yard work savvy. Keep the landscape simple and appealing. Going over board will not be a good return on investment when it comes to the sale of your home.
The motto in home renovations is keep it classic, simple and appeal to the masses. This is especially true when you are considering selling the home in the next five years. If you know you are staying in your home forever and you don’t care how it appeals to others because you aren’t going anywhere, than live it up! Add in the built in hot tub with full bar on to the deck and litter the yard with beautiful flowering plants! Heck it is your home – enjoy it!