In the first instance, your home is your safe haven. It’s the place you can relax, unwind, deal with the stresses of the day, and truly be yourself. In that sense, the value of your home doesn’t matter.
However, you live in the real world where money is key to everything. That means, if you want to sell your home and use the money or buy another one, you’re going to want to maximize the selling price.
There are plenty of ways to do this, from simply tidying the yard to investing in a quality garage renovation. However, there are also several remodelling projects that you should stay away from unless you want to decrease the value of your property.
Adding An In-Ground Pool
It may seem like an attractive proposition, adding a swimming pool to your yard. After all, when it’s hot it's nice to jump into the cool waters and refresh. However, an in-ground pool carries inherent risks, specifically if the new family have young children. Alongside this, the pool will require regular maintenance and upkeep, which adds to the running costs of your home.
This is often an issue and even more so if you need space to create a play area for your children.
Customizing your home is your prerogative and part of what makes you feel comfortable in your own home. However, there is a limit if you are hoping to sell the house and not downgrade its value.
You need to remember that colours you love are not always loved by others. Although it is a relatively simple job to repaint walls, many buyers are not interested in doing work. As such, you need to make sure the walls are a neutral colour. If not, you could scare off buyers. The smaller the potential pool of buyers the less your property is worth!
If you are thinking of selling and realize that the flooring is looking a little tired, don’t replacer it with cheap laminate. This will look less appealing than the worn carpet and is likely to lower the price of your home.
In short, it’s something else that the buyer will have to do and they don’t want to do anything.
You may think it is a good idea to remove a closet and make a little more space in some of the rooms. While this seems like a good idea in reality it isn’t. Buyers never complain of too much storage space but they will if there doesn’t appear to be enough.
Leaving the space as it is will protect the value of your home and leave the buyers to pay the cost of changing it if they want to.
The best approach, when considering remodelling projects is to consider what you would think of it if you were viewing the property for the first time. If you are not sure then the remodelling you’re thinking of is likely to decrease the value of your home. That’s not the outcome you want.