Sellers, Beware! These Home Improvements Could Hurt Your Home's Value

Homeownership is beautiful and rewarding. It gives you the freedom to add any renovations you like and turn your home into your haven. However, if you're even considering selling your home in the near future, then you have to be very careful in deciding what improvements you'd like to add to your home. While there are certain features that could greatly increase a home's resale value, there are also home improvement projects that can be detrimental to it. Most of these renovations, if made permanent, can bring extensive damage to the home. Also, your definition of improvement may not be the same to many buyers. When it's already time for you to sell, these projects could reduce your potential buyers and even force you to lower your asking price. Unless you never want to move, relocate or downsize in the coming years, then you should avoid making these renovations before putting your house for sale. Consult with your experienced real estate agent on what items will have a potential impact on the salability of your home. After all, owning a home isn't only about fulfilling that American dream and having your personal place — it's also an investment in your and your family's future.

 

Combining two bedrooms to create a much bigger room, or turning a bedroom into another permanent living space, such as a home office or a huge master closet, is a common mistake that homeowners make. However, removing a bedroom is definitely the number one home improvement that could lower a home's value. The number of rooms in a home can actually make or break a sale because buyers always want the maximum number of rooms available in a home. Merging two small bedrooms to create a bigger one might seem a good idea for young couples and empty nesters, but if you plan to sell after a few years, then it's a wrong move. Most buyers with families want their children to have their own rooms, or want to use a spare room as a guest room or an extra storage space.

 

Instead of knocking down walls to create a bigger room, try to make your bedroom space look bigger by using lighter colors and putting in modern, slim furniture. If you opt to transform a bedroom into a master closet or a home office, make sure that the room can be easily restored to its former state when you put your property on the market. Avoid installing permanent desks, cabinets or any alterations that potential buyers might see as a waste of space. It's important to keep all options open for buyers without them spending money to undo any renovations you've made.

 

Homeowners often put up wallpaper to show off their favorite patterns in their home, but this design choice could be a bit overwhelming when it's already time to sell. Yes, wallpaper can be removed, but the task can be quite challenging and will require a lot of time and energy, especially if there is too much throughout the home.

 

If you do have wallpaper all over the home and you're planning to sell, it's a good idea to remove the wallpaper and repaint the walls in neutral colors before making your house available for showings and open houses. This way, potential buyers will never need to think about how much time and effort they will have to put in order to remove the wallpaper. It could be a deciding factor, especially for someone who wants a move-in-ready home, or someone who wants to put in their preferred patterns. A fresh coat of paint will also help convince buyers more than any of those patterns and other decorations.

 

New carpet looks great at first, but it can quickly show signs of damage compared to hardwood floors. Today's buyers may cringe at the idea of having wall-to-wall carpeting in a home. It's because not only is carpeting expensive to purchase and install, but there's also a growing health concern over its potential for allergens. It can be a serious concern for families with children, especially those who have allergies. Carpeting is also not recommended for buyers who are dog or cat owners since carpets can easily be clawed and ripped off by these pets. Besides, carpeting still comes down to personal choice. Your favorite color and style may not be as appealing to prospective buyers as it is to you. Because of these problems, it may prove difficult for you as a seller to recoup the costs, because you may end up spending thousands of dollars to install it, only to have it removed because buyers don't want it.

 

Recent studies have established that people nowadays will pay more for bare floors, so removing carpeting and restoring hardwood floors can be a more profitable investment. Carpets can easily wear out and show signs of damage compared to solid or engineered wood floors that are more durable. You may incorporate the style and colours you want in your floors by buying patterned rugs instead.

 

Homeowners make a big mistake when they remove a closet in order to make room for another upgrade, such as a larger bathroom or bedroom. This seemingly innocent renovation can definitely hurt a home's resale value since people would prefer to have enough storage space. Oftentimes, people will walk in the house and count the number of closets per room, and it's a major inconvenience if they notice there are no closets.