When homeowners decide it is time to sell, they'll realized that after living in a home for years, wear and tear are apparent, and remodeling projects are contemplated in order to update the house, outdoor entertainment areas and landscape. This is where the owner can make mistakes that can cost thousands of dollars in the value of the home.
It’s not what you like that matters!
Here are some remodeling mistakes that chase buyers away!
(1) Building a Swimming Pool
Who doesn’t like sitting around a beautiful sparkllng pool on hot summer day? You may be surprised to know that most people just don’t want the hassle. According to HouseLogic, “a swimming pool could increase a home’s value by 7 percent at most — and that’s only in certain circumstances. Because of the cost to build a pool, maintenance expenses and a very minor potential value increase, a swimming pool addition simply isn’t worth it for most homeowners.”
(2) Hot Tub?
Similar to a pool, hot tubs aren't for everyone. They can be a constant maintenance headache and many people feel they are safety hazards for children. As such, they can reduce the value of the home.
(3) Converting Two Bedrooms Into One Larger Bedroom
The number of bedrooms in a home is important in valuating a property. Properties are valued by comparing them to other properties. Combining 2 bedrooms to make one large suite is a bad idea. Where the home could be compared, for example, to a 4 bedroom home valued at XXXX$, it now is a three bedroom home at XX$. Some real estate experts estimate that each bedroom (small or large) adds 15 percent to the value of the home when it comes time to sell.
(4) Removing a Closet
This mistake is one a homeowner should not make. Many homebuyers count closets when they are looking at a potential residential property. Turning a closet into a larger bathroom or bedroom might seem like a great idea, but it most certainly is not good for the resale value of the home.
(5) Turning a Garage into a Gym or Other Living Space
If a child returns home or a grandparent needs to live with the family, turning the garage into a living space seems reasonable. But future buyers may not have this situation and they want a garage to park vehicles and store things. If the garage must be turned into a living space, it is important to ensure that it can inexpensively be returned to its primary function.
(6) Adding a Sunroom
A nice sunroom would seem to be a selling plus. But this is one of the big losers when it comes time to resell. Experts agree that a sunroom addition is one of the worst home renovations when it comes to return on investment, with a cost of an addition exceeding $75,000 while only adding just over $35,000 to the value of the house. Those numbers should make a homeowner stop and think about other ways to bring the outdoors indoors.
(7) Using Bright Paint or Odd Colors for the Walls
The homeowner might really love bright or unusual color combinations for the walls. Might like very striking decor. But for many homebuyers this personal customization is a distinct turnoff. It's too personal, may in fact convey a feeling about the home and the owners that sours them. When it comes time to resell, repaint walls using neutral colors.
(8) Installing Carpeting
Carpet can show a history, especially if kids and pets are involved. But new hardwood floors can increase the sale price of a home by up to 2.5 percent. Compared to hardwood and laminate floors, carpet can quickly show signs of damage, and there are many people that are adverse to carpeting for health concerns. And, colors and textures are highly subjective to personal preference, and any overly personal touches can decrease a home’s value.
(9) Turning a Bedroom into a Home Office
It's true that more and more people work at home, making a home office an enticing proposition, and sometimes a necessary one. But if this office comes at the expense of losing a bedroom, it is also a losing proposition. The odds are greater that a future buyer wants more bedrooms, instead of a home office.
(10) High-End Light Fixtures
If return on investment on a home is important, the homeowners should never become enamored with lavish light fixtures. Light fixtures can become dated relatively quickly, although the homeowner may not be aware of this. If there is decor, realize that the new owners will want to install their own decor to make the home their own.
(11) Overly Personalized Floor Tiling
Adding wood or tile flooring can add value to a home. However, floors that are unusually configured and highly personalized to the current owner, will likely not appeal to the broadest range of buyers. For floors, the best advice is to keep it simple.
(12) Don’t DIY
Unless the homeowner is a professional carpenter, mason, electrician or other tradesman, DIY upgrades rarely look right. And they may suggest other problems to the prospective homebuyer about other repairs/remodeling the owner did that may not be good. If resale is the objective, get a professional to do the remodeling work.
(13) Don't Give Up Yard Space
Giving up yard space for outdoor entertaining by installing big outdoor grills, firepits, pizza ovens, putting greens, large patios, can actually detract from the home's appeal and value. Many buyers want outdoor space to enjoy. Small, cramped yards are undesirable to most homebuyers.<p>
Before you go to the local garden center and dig out your tools, take a good look around your neighborhood. Your landscaping should be complementary to surrounding properties. That's not to say that if some properties are unkempt, you want to mirror those. But neither do you want your landscaping to be the "best" and greatest in the neighborhood, because that comparison may make buyers believe the neighborhood is lacking care.