Your home is more than where your heart is. While creating the perfect space for you and your family to enjoy while living in your home should be the priority, here are some home improvement ideas to be wary of as they may hurt your chance at netting top dollar when selling your home:
- Lavish Lighting Fixtures – While you may be wowed in the lighting showroom that lavish light fixture that is all the rage today may be dated and tired and when trying to sell your home in 3, 5, or 10 years! Simple is always best when it comes to lighting.
- Too Much Wallpaper – Wallpaper has upped its game in the past few years to incorporate modern design aesthetics but like lighting what is “in” now could date your home in a few years. Also, when Buyers see wallpaper the first thing they think about is how notoriously difficult it is to remove wallpaper. Fresh paint and neutral colors are perennial, classic choices.
- Too Much Carpeting – 54% of Americans are willing to pay more for a home with hardwood floors according to National Association of Realtors data. Carpet is quick to show wear and damage and texture and color are very personal preferences.
- An Extremely High End Kitchen – While the old adage kitchens and baths sells a home it is possible to go overboard! In 2018 the national average for a full kitchen remodel was $62,158 with a return on average of $40,560. Unless you are own a luxury home focus on the most dated or worn aspects of your home and consider mid-range appliances instead of top of the line.
- Combining Bedrooms – Combining two small bedrooms into one large room may seem like a great move but unless you plan on staying in the home forever this can be a bad move. Even small bedrooms have value and people with children would often rather each child have a small bedroom to themselves than to share one large room.
- Garage To Gym Conversion – Many people actively search for a home based on garage parking so while converting a garage into an apartment space or a home gym, being able to inexpensively revert this space back to a garage is imperative.
- Adding A Sun-room – Sun-rooms offer an extremely low return on investment. An average mid-range sun room can run around $42,000 so if you decide to add one for personal enjoyment just be aware that you won’t see a major return on the investment.
- Built-In High End Electronics – While the cinephile would love a customized theater room the average home buyer may just see an otherwise usable room gone to waste.
- Hot Tubs & Pools – In Central Ohio a hot tub or pool addition can be a gamble. They take up space and require a lot of maintenance and potential home buyers see dollar signs adding up in their minds.
- DIY Repairs – Do it yourself repairs and improvements can actually lower your home’s value. It is always best to hire a pro to complete the job to avoid incomplete or shoddy workmanship that will turn Buyers off of your home.
In the end, over personalizing your home can lead to a dramatic decrease in value. While you want to live in a space you live give some extra thought before investing in costly, hard to undo renovations and improvements. Always make sure your work is professional done and permitted and if you every wonder if something will or will not add value to your home the team at Julie & Company | HER Realtors is always here to answer your questions.