General Real Estate August 12, 2019

Some Home Renovations Can Actually Harm Resale Value

Sometimes home improvements are necessary due to major issues; however, the worst thing a seller can do is make renovations that aren’t supported by the local market.  Here are a few good examples that this article points out.

Over-the-top kitchen remodels costing more than 25% of the home’s value do not generate much of a return when selling your home. If you’re going to add an addition to your home, it is wise to seek professional help with the layout and design to avoid destroying the floorplan/function.

If you invest in a pool, know that you’re unlikely to recoup the cost. Converting a room to something not in line with its original purpose, such as converting a bedroom into a gym, can lead some buyers to immediately set the home aside as it doesn’t have the required number of actual bedrooms for them. If your home features a lot of customizations that don’t appeal to a wide audience, buyers might subtract the perceived cost of replacing these features from their offers. If you decide to go to the trouble of replacing carpeting in your home, you might as well replace it with wood or tile as most buyers dislike or are turned off by carpet.

Prior to renovating/putting your home on the market, you should seek the advice of a real estate professional to provide you with a list of recently sold homes in your area and what types of upgrades those homes had.  I’m happy to help!

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