Thinking about giving your home a makeover? Before you start tearing down walls or spending big bucks on new appliances, consider which renovations might actually decrease the value of your property.
- Replacing your front door with a flashy, over-the-top one
Your home’s front door makes a big first impression. But if you go too far in making it stand out, you could actually end up decreasing your property value. A study by Realtor.com found that homes with “unusual” front doors sold for $6,000 less on average than other homes. So if you want to add some curb appeal, stick to a more traditional style door in a neutral color.
- Installing an in-ground swimming pool
While an in-ground swimming pool may seem like a major selling point, it could actually deter some buyers and decrease your home’s value. That’s because pools are expensive to maintain and can be a liability if someone gets injured on your property. In some cases, homeowners’ insurance rates may even go up if you have a pool. If you do decide to install a pool, make sure it’s in a good location and well-maintained so it doesn’t become an eyesore.
- Putting up wallpaper
Wallpaper can be a great way to add some personality to your home. But it can also be a turnoff for potential buyers, especially if it’s outdated or in poor condition. If you do decide to wallpaper, choose a classic style and make sure it’s in good condition before putting your home on the market. Buyers may also suspect wallpaper is being used to cover over mold or mildew issues so make sure to make clear that this is for decorative purpose only.
- Neglecting the landscaping
Your home’s landscaping is important, both for curb appeal and for the value of your property. If you let your landscaping go, it could end up costing you. A study by the National Association of Realtors found that well-landscaped homes sold for 7 percent more than homes with neglected landscaping. So make sure to keep your yard trimmed and tidy if you want to maximize your home’s value.
- Getting too personal with paint colors
While you may love that bright yellow paint in your kitchen, potential buyers may not feel the same way. It’s important to use neutral colors throughout your home when you’re trying to sell it. That way, buyers can more easily envision themselves living there. If you really want to add a pop of color, stick to small accent pieces like throw pillows or rugs.
- Converting your garage into living space
While converting your garage into living space might seem like a good way to increase the value of your home, it can actually have the opposite effect. Many buyers are looking for homes with a functional garage, and they may not be interested in buying a home that doesn’t have one. Additionally, converting your garage into living space can be expensive and may not add as much value to your home as you think.
- Installing a sunroom
Sunrooms are another feature that can actually decrease the value of your home. While they might be nice to have, they can be expensive to maintain and may not be used as much as you think. Additionally, sunrooms can make it difficult to cool or heat your home, which can be a turn-off for potential buyers.
- Adding a bedroom
While adding an extra bedroom might seem like a good way to increase the value of your home, it can actually have the opposite effect. The extra bedroom may not be up to code, or it might not be as big as buyers want. Additionally, the extra bedroom may not fit with the rest of the home, which can make it difficult to sell.
- Installing a new roof
While a new roof might seem like a valuable addition to your home, it can actually decrease your property value. A new roof is a big investment, and many buyers may not be interested in paying for it. Additionally, a new roof can be difficult to install, and it may not last as long as you think.
- Ignoring necessary repairs
If you have any broken windows, holes in the walls, or other necessary repairs, it’s important to take care of them before listing your home. Otherwise, you could end up losing out on potential buyers or selling your home for less than it’s worth. So make sure to take care of any necessary repairs before putting your house on the market.
- Remodeling without a plan
If you’re planning to remodel your home before selling, it’s important to have a clear plan and budget in place. Otherwise, you could end up spending too much money on a project that doesn’t add enough value to your home. Stick to cosmetic updates and avoid any major structural changes if you want to get the most bang for your buck.
If you are remodeling to sell or are looking at a property to buy, Klein Kitchen and Bath can help to design the best renovation for your needs. Call us today to book a free consultation and ensure that you are getting the best and most worthwhile renovations in NYC.