SHANNON VINNICK
Sales Associate/REALTOR®
Realty Executives Oceanside
You might be surprised to learn that some of the most amazing home improvements have little market worth. What one person views as a luxurious experience may seem like a waste of time, money, or space to another.
The most common mistake made by homeowners when renovating their homes is to include extra features. Some make unfavorable adjustments that discourage potential purchasers from submitting an offer. You should avoid making these 10 modifications to preserve the value of your house, regardless of whether you want to stay in it for a little longer or to put it up for sale.
1.Interconnecting Spaces
Even though you may have big dreams for your master bedroom, joining two rooms to create a larger one would drastically lower the value of your house. Even if they are smaller, prospective buyers with kids will want enough bedrooms for everyone to have their own.
Families today require additional bedrooms in order to house parents and grandparents. According to Generations United, 1 in 4 Americans reside in multigenerational households, a 25 percent increase from 7% in 2011 to 26% in 2021.
2.DIY Projects & Repairs on a Large Scale
Even when you've done a little home remodeling yourself, it's best to leave anything more complicated than a simple touch-up of paint or caulk to the experts. Even little errors can have dangerous and expensive consequences. For instance, uneven weight distribution might arise from fasteners that are even a millimeter wrong. The parts may eventually break free and separate. At worst, it might result in harm.
While doing tasks yourself can save money compared to hiring a professional, poor quality work will be noticeable to potential buyers. These errors may result in costly repairs and a decline in the value of the house.
3.Carpeting from wall to wall
Although it may be cozy to walk on warm, plush carpeting in the winter, wood flooring is preferred by purchasers, especially in common spaces.
Over 91,000 colony-forming units have been found in carpets, which is roughly 30.2 times more germs than refrigerator handles and 5.7 times more germs than toilet seats.
Replacing carpet with more carpet can only yield a 25% to 40% return on investment (ROI). On the other hand, in the current market, hardwood flooring offer a 70% to 80% ROI.
4.Adding a Swimming Pool
Unless you live in an affluent neighborhood or in a warmer region, a swimming pool offers one of the worst return on investments. Prospective purchasers are not very excited about operating and maintenance expenses.
A filtration system without installation fees might cost between $725 and $1,525. Of course, maintenance and chemical treatments might run you anywhere from $230 to $1,600. You will have to pay someone to maintain it even if you choose not to do it yourself.
Buyers, particularly younger, more frugal ones, seek out properties that are well-maintained and require less ongoing expenses. It is less likely to deliver in a swimming pool.
5.Converting the Garage
It's possible that adding extra living space to your garage won't raise the value of your house. For some existing homeowners and prospective buyers, especially if someone else is moving in, the extra space is priceless.
Many concur, nevertheless, that a connected garage is worth more in cities. To avoid having to find street parking, people who live in cities park their automobiles in garages. Furthermore, 85% of homeowners believe that having a garage for storage is desirable or necessary.
6.Specialty Tiles
Playful ways to include your personal style preferences are with backsplashes and floor tiles with patterns. For example, you may install a charming farmhouse pattern on the floor of your bathroom or add some Mediterranean flair behind the stovetop. On the other hand, less customisation is preferable.
Not every potential buyer who views your house will agree with your style choices or point of view. They might only anticipate the expense of demoting and replacing the improvements you made, which would lower the value of your house.
For the backsplash, think about going with a classic white subway tile or something neutral for the bathroom. These simpler looks will never go out of style, no matter what the trends in the market.
6.Removing a Closet
A 2023 Neighbor.com study found that 25% of respondents felt they needed or desired additional room in their houses. More unexpectedly, 1 in 4 households find that their square footage increases over the course of two years.
Removing storage from your house will lower its worth. Refrain from eliminating closet space for whatever purpose. The greatest options are to turn a closet into a pantry or maximize closet space for more storage.
7.Aquariums that are Built In
You may be a fish lover or consider built-in aquariums to be a luxury feature in your house. In either case, you shouldn't think about updating your house with a built-in aquarium.
Due to the expense of maintenance and upkeep, the majority of prospective purchasers are not interested in built-in aquariums. The cost of having it removed from the house is equally high. If you must keep fish, go for an independent fish tank that is simple to put together and take apart.
8.Adding a Sunroom
Though it may seem like a luxury that will increase the value of your house, adding a sunroom has a lower return on investment than you may imagine. Making the area into a four-season room is the only way to possibly recoup your investment.
The costliest type of sunroom is a four-season room, which can range from $25,000 to $85,000 based on size, insulation, heating, and cooling. Nevertheless, because it can be used all year round, this kind of sunroom increases square footage.
9.Technology Integration
By 2025, about 57% of homes will have smart home technologies. These days, most homes are equipped with smart TVs, thermostats, speakers, lights, security systems, and in-home personal assistants.
By 2025, a staggering 50 billion gadgets will be connected to the Internet of Things, according to a McKinsey study. This represents an additional 79.4 zettabytes of data every year.
The speed at which technology is developing may be too fast for home integration. Soon after you install home appliances, it's conceivable that they may become obsolete. As a result, it is advisable to forgo purchasing integrated home automation. To save money, put more of an emphasis on incorporating energy-efficient features and appliances.
Choose Your Renovation Project Wisely for the Best Returns
It's good to have some home upgrades. On the other hand, you should renovate your house with buyers in mind if you want to move soon. To determine if a project is worthwhile, compare its expenses to its possible return on investment.
