Personalizing your home according to your choice is an experience every homeowner loves. While customizing your living space might make it ultra-cozy for you, some renovations could put a dent in your home’s resale value.
Dark or Bold Paint
Bold and dark paint colors may appeal to your personal aesthetic preferences. However, they can potentially deter prospective buyers and negatively impact a home’s resale value. Instead of making a daring color choice, it is advisable to opt for neutral and lighter tones. This creates a more universally appealing ambiance, allowing buyers to envision their style within the space.
Luxury Bathroom
Bathroom upgrades can undoubtedly enhance a home’s value. However, homeowners planning to sell in the near future should exercise caution against overly opulent or extravagant renovations. A freestanding tub or whirlpool may be a source of personal pride. However potential buyers may perceive such features as a waste of space or an unnecessary indulgence. It may fail to align with their practical needs, ultimately deterring them from considering the property.
Too Much Wallpaper
A tasteful accent wall or powder room decorated with trendy wallpaper may be acceptable. However, excessive use of wallpaper throughout the home can be overwhelming for potential buyers. They may perceive it as an additional project to undertake if they purchase the property. This could diminish the overall appeal of the property.
Tacky Tiles
Tiles can undoubtedly enhance a home’s value if it features a contemporary style and proper installation. However, the presence of outdated materials in other rooms can negate the positive impact of titled areas. Hard surfaces generally improve a home’s appeal, but room-to-room consistency is equally crucial. It helps in maintaining a cohesive and appealing aesthetic.
A Closed Floor Plan
Although open floor plans were once highly coveted, the pandemic has led some individuals to appreciate the privacy and separation offered by a closed floor plan. However, most buyers still prefer an open layout that allows for easy monitoring of children’s activities. It also facilitates the natural flow of light throughout the space.
Overdone Kitchen
While buyers appreciate an upgraded kitchen, an overly high-end renovation may not guarantee a full return on investment upon the sale of the property. Instead, homeowners should focus on addressing the most worn or dated elements. This can include flooring and countertops. Moreover, homeowners should opt for mid-range appliances if upgrades are necessary.
Home Theater
While a home theater may be a dream for movie enthusiasts, potential buyers may view it as an unnecessary indulgence and a waste of space. The substantial investment required for the theater and its associated electronics often fails to translate into increased home value. If homeowners wish to incorporate tech upgrades, implementing features such as security systems or smart thermostats is recommended.
Textured Ceilings and Walls
Fancy, textured ceilings and walls may seem like a unique way to make your room stand out. But your buyers may not share the same enthusiasm for such textures. If they dislike the texture, they may opt for a home with fewer refurbishing requirements. For instance, many consider popcorn texture on ceilings to be outdated. That’s why, it is advisable to stick with textured accessories and decors instead.
Bulky Build-Ins
Although built-ins can help avoid cookie-cutter home designs, they may not necessarily improve a home’s value. This is because potential buyers may not align with the chosen styles. A room with a large built-in desk for a home office, for instance, would require construction work if the next owner wishes to repurpose the space. Buyers may reduce their offering price to account for necessary renovations compared to blank slate rooms that can accommodate their different needs.
Three-Season Porch/Sunroom
A sunroom can provide enjoyment for homeowners planning to stay for several years. However, it may not be worth the significant cost if selling the home soon is a possibility. It would result in a poor return on investment as the cost of a sunroom can be around $70,000.
Contrasting Exterior and Interior
A home’s exterior and interior serve distinct functions. The transition between the two should maintain design cohesion with the exterior style not being drastically different from the interior. Homebuyers may feel confused when the interior style clashes with the exterior. For instance, a farmhouse exterior followed by an outdated traditional interior can create a sense of dissonance.
Creating Dedicated Space
Converting arrears of the home into dedicated spaces, such as turning a basement into a gym or common room, may appeal to currency homeowners. But it can potentially deter prospective buyers. These specialized spaces may be perceived as limiting, requiring costly conversions to suit the new owner’s needs. So, while the idea of a man cave or home gym can be appealing, overdoing it can harm the home’s value.
Solar Panels
Solar energy installations have become more affordable and their value to prospective buyers continues to rise. However, installing them does not necessarily guarantee a significant return on investment. Contract terms for solar panel installations can vary. It can potentially saddle the prosperity with liens or obligations that may deter mortgage companies.
Converting Garage
Some homeowners may convert their garages into living spaces, such as a game room or home gym. On the contrary, buyers often place higher value on a functional garage over additional living space. In certain markets, garage space is highly valued. It makes homes without a garage more challenging to sell.
New Roofs
A leaky roof may present a significant issue for potential buyers. However, many real estate agents suggest that a newly installed roof is perceived as a maintenance concern rather than a remodeling project that enhances the home’s value. Agents recommend considering the potential discount in the sale price to entice buyers if the roof has not been replaced.
Over-the-Top Landscaping
Some homeowners may view extensive landscaping with native plants and a vegetable garden as a selling point. However, potential buyers may see such features as requiring significant work and upkeep. To maximize the value of landscaping during the selling process, it is advisable to keep it tidy and simple. You can feature easy-to-care-for flowers, plants, and trees.