5 Home Improvements that Hurt Your Property Value

The “Flip & Flop” strategy with real estates has become wildly popular in the recent years. Both, owners, as well as investors in the construction and real estate industries venture into bold renovations and reconstructions on the property they plan to sell, in the attempt to increase its market value and make it more attractive to potential buyers.

While home improvements can indeed largely enhance the quality, the looks and the curb appeal of a property, not all renovation projects would however justify the ends. So, before undertaking such a daring enterprise, applying for home improvement loans and calling contractors, take into consideration these five home improvement ideas that may backfire if not planned and executed properly.

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While you may enjoy a dip in the hot summers, adding a pool to your property can significantly hurt its value when it’s time to sell. Pool maintenance is costly and cumbersome for those who don’t use it often, and the added insurance costs for owning a pool can make it difficult to sell your property quickly.

Adding bedrooms without adequate closet space can also hurt the value of your home. Buyers want plenty of storage options, and a bedroom with limited closet space may not be appealing to them. If you’re considering adding bedrooms, be sure to plan for the extra storage needs that will come with the addition.

There are many different ways to renovate your home and make it look brand new. You can choose to renovate with the latest trends or stay more traditional. However, if you want to make your home more marketable, you should avoid a few things when renovating, including the latest fads in home decor or architecture.

Consider the trends of the past that make potential homebuyers run screaming from the property: carpeting in bathrooms, popcorn ceilings, and fake stone walls. Shiplap may seem cool today, but remember that it was often seen as an eyesore and poor quality in the past. In a year or so, the trend could cycle back to shiplap being a drawback that causes your home to lose value on the market. You need to keep a balance when making improvements to your home if you’re planning to sell in the near future: the upgrades should be necessary and add to the value and shouldn’t rely on the latest trends. It’s best to stick to the most popular interior design styles.

One of the most significant selling points for any home is its kitchen. Homeowners are looking for spacious, open floor plans in their kitchens, so renovating the kitchen to be closed off or feel smaller could significantly hurt your property’s value. One of the best ways to improve your kitchen’s value is to add an extra bedroom and use that space for a large kitchen. You can also add a breakfast area or an office if you have one.

Adding bathrooms can be a great way to make your home feel more spacious, but adding too many can also negatively impact the property’s value. If you’re renovating and adding a bathroom, it’s essential to consider how much additional square footage the bathroom will take. If it’s too much, try to find another way to use that extra space, such as increasing the size of your living room or adding an outdoor deck.

Making improvements to your home is an excellent way to upgrade your quality of life while increasing your property’s value. However, you must think strategically about whether your upgrades will be a net positive or negative when it’s time to sell. By considering these five home improvements, you can make sure that your updates will positively impact your property’s value.

Published in: Home advice | Author: Carolina