Residential Renovations Can Destroy the Value of Your Home
Home renovations are common options undertaken by many homeowners nowadays however there are individuals who often wonder if home renovations can really add resale value to their home. It is true that there are home renovations that can improve the resale value of your residential property but on the other side of the story, there are also home renovation mistakes that can completely destroy the resale value of your home.
The following are residential renovations that can damage the value of your home. These supposed home improvements do not actually add something worthy in your bottom line instead; leave your home less attractive to possible clients:
1. Converted Garage
Some homeowners view converted garage as a cheaper means of adding more living space rather than adding a new building. However, there are still clients who prefer a garage most especially during rainy and cold climates.
2. Eliminating a Powder Room or a Bedroom
This is another home renovation that can hurt the selling price of your home. In some older homes, combining the smaller rooms in a public living space may add value to the home because homeowners today prefer open and large spaces. Eliminating the bedroom or powder room however is a bad idea.
3. Too Much Color
If you are passionate about colors, you can consider painting your walls with rainbow hues or paint neutral color when you are ready to sell your property. Painting is part of home renovation however, to not affect the value of your home and the selling price, be mindful that there are colors that do not appeal to most clients or buyers. Using too much color may impose negative impression from them.
4. Heavy Personalization
Who do not want to make their homes signature pieces? Most homeowners probably want to have an exclusive home however heavy personalization and unusual features might turn the potential buyers off. When doing home renovations, keep in mind that being too specific or personal is not really appealing to pool of potential buyers.
5. Adding a Swimming Pool
In some neighborhoods or states pools are commonly seen in residential properties. Adding pools do not really scare off property buyers. However, in areas with cooler climates all throughout the year, pools are more of expensive hassle than valuable investments. Some individuals may not realize it but adding a pool can somehow destroy the resale value of their home.
6. Renovations with No Permits
Most municipalities require permits in both minor and major renovations. This is partly to make sure that home renovations or improvements are all up to code. Savvy property buyers will ask you if renovations are done with the necessary permits. Some buyers even request for copies of these requests to make sure that everything goes in compliance with set rules or requirements.
These are just few of the many home renovations that can destroy the resale value of your home. If you have the desire to close a successful sale, you need to avoid this home renovation mistakes as much as possible.
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