Put that Sledgehammer Down: You May Be Hurting Your House’s Resale Price with These Renovations
Purchasing your home may be the ultimate American dream. For one, it feels different to have a place you can call your own and second, you can do literally whatever you want with it. Say, this month you’re into anything yellow, so you paint all walls with the bright hue.
Or, you decided to revamp your entire kitchen into something unrecognizable. However, proceed with caution – these renovations could lessen the value of your house.
There are some home improvements that are needed, like when there’s an architectural problem that should be fixed immediately. Nations Lending CEO Jeremy Sopko explained that there are property renovations that could be lucrative in the long run – this means that your house will see a very attractive return of investment.
However, owners should know that not all fabrications will increase the value of their abode, sometimes, these could do the opposite. So before deciding, here are some improvements that could be an issue in the future.
One of the reasons home improvements become a problem for future buyers is the personal preference of the owner. Not all people would love the bright polka dot tiles you had installed in the bathroom or the hot pink kitchen you requested, but when it comes to pools, everybody seems to love it.
However, it’s not only pricey to have one made – around $25,000 to $30,000 – but it is also difficult and costly to maintain. Hence, not everyone has the time and money for maintenance.
And, families may not be attracted to your property because pools pose dangers to those with kids. So, if you really plan to install one in your property, Casa Consult+Design owner Paul Andres Trudel-Payne advises using it for many years.
It’s YOUR house so you can practically do anything you want with it. However, unconventional wallpapers and tiles, and even aquariums in the walls can be a big turn-off to potential buyers.
Although it may be aesthetically pleasing, it may not be what they would want to see in THEIR home. They may see these improvements as bothersome or just an additional cost if ever they want to have these removed. The bottom line is that sometimes, these quirky things we’re into will not look appealing to others.
Century 21 realtor Susan Bozinovic said that the kitchen is one of the most important parts of a property, so much so that others base their decision on this nook.
But this doesn’t mean you should invest too much on renovations because there are two ways it can be a problem when you plan to sell your home. First, an uber-posh kitchen in a not-so-luxurious house is clearly a mismatch, which may be off-putting for buyers.
Plus, expensive improvements in the kitchen do not add much to the value of the house. You shouldn’t shell out $200,000 for remodeling when your house is worth $300,000. Ideally, this type of renovation shouldn’t go over $25 percent of the value of the home.
More in Legal Advice
They Just Did It: Nike is Renting the Most Expensive Property On Champs-Elysées That Was Sold for This Jaw-Dropping Price
Champs-Elysées Avenue, the picturesque street in France, is home to luxurious shops, cafes, and theaters. It is no doubt one of...October 23, 2019
A sneak Peek at Ben Affleck’s Georgia Property That’s Down from $8.9 million to $7.6 million after More Than a Year on the Market
Ben Affleck’s property in Georgia is still on sale but the actor is giving us a 15-percent deduction — from $8.9...October 22, 2019
Itching to Buy a Property? Why Not Buy an Entire Town in California That’s Just a Ride Away from the Ocean
Have you ever considered buying a property? How about an entire town that’s just an hour’s drive away from a bustling...October 21, 2019
Moving to a Smaller Home? All the Details You Need to Know about Downsizing as a Retiree
Remember when it used to be just you and your better half? A bare-bones residence was OK, which eventually became a...October 18, 2019
Justin Bieber Reveals via Instagram that His Stunning Beverly Hills House is up for Grabs, Here Are the Details
If you thought that celebrities would rely on high-powered realtors to sell their properties, then you are wrong. At least with...October 17, 2019
A First-Time Home Buyer? Learn about These Insider Mortgage Tips First to Save Tons of Money
The thought of owning a home is exciting and terrifying at the same time. Of course, you’ll be thrilled to finally...October 16, 2019
Are Co-Living Spaces Really the Solution to the Housing Crisis? Here’s The Real Deal about It
You don’t have to think about paying rent when you’re young and still live with your parents. However, know that you...October 15, 2019
There’s an Increase in US Household Size, the First in a Long Time: Here’s Why Millennials Are Also to Be Blamed
How many people are living in your home? Between 1790 and 2010, there was a steady but slow decline in household...October 11, 2019
Nothing But Drag: RuPaul Just Bought a $13.7-Million Mansion That is Unapologetically Grand
When you’re a world-famous drag sensation, a four-time Emmy winner, and one of the most influential icons of this generation, you...October 10, 2019