4 Renovations Which Could Sabotage a Home’s Resale Value
Many homebuyers in Florida aren’t looking to stay in a residence longer than seven years. This should be kept in mind when undergoing any home renovations. You should already be thinking like a seller — especially if you are thinking about flipping a home.
If you are interested in making some home improvements, you need to consider how these could impact the sale of your home in the long run. The following renovations could hurt the resale of your home.
1) Getting Carried Away with Landscaping
Having a green thumb or good landscaping abilities can be a point of pride for some homeowners, but going overboard could be a turn off for potential buyers. They may not be interested in paying for the added price or running the maintenance to keep it looking good. This holds doubly true for younger home buyers.
Try to find some middle ground with your landscaping projects. In fact, just ensuring that your lawn looks well maintained could be enough to give it that crucial curb appeal.
2) Convert the Garage into a New Room
It might make sense to sacrifice a garage to make a larger family room, especially if you don’t have much need for one. Lots of people are good with just a driveway.
Remember that the goal is to think like a seller. A garage is an expected part of any residential home, certainly in the suburbs. This is a real estate blunder that far too many homeowners make. But guess what? They weren’t thinking like a seller…you will! So the garage should stay.
3) Converting a Room into a Walk-in Closet
A lot of people think that they can improve the aesthetics of their home by converting a small room into a home office or big walk-in closet. If you’re in a neighborhood like Winter Park, FL, this could seriously hurt your chances for resale. Buyers may see that spacious walk-in closet as an added renovation expense to convert it back to a bedroom.
The home office shouldn’t be difficult to convert back — provided you haven’t made significant changes to the layout of the room. Converting a room into a closet usually involves building and/or taking out walls and doors — which requires more work to undo.
4) Using Highly Personalized Fixtures, Finishes, and Colors
Every homeowner has specific tastes and styles, and this is something they’ll indulge in when renovating. These things can be a real pain to replace for new owners. Getting to personalized with any of the following could hurt your resale prospects:
- Floor coverings
Many people believe that investing significant funds in exotic tiles and floor coverings is going to really boost their home’s value. Unfortunately, this expensive personal touch could make your home look like a “fixer-upper” for potential buyers.
We aren’t saying that you shouldn’t add some personal touches when renovating your home. This can certainly add value. Just keep in mind that some buyers won’t like your taste and many won’t want to put in the effort to replace it. But you can avoid these problems by keeping that seller mindset throughout any renovation process.