Some ‘upgrades’ can downgrade the value of your home

If you’re in your home for any length of time, at some point thoughts of renovations will race across your mind. But did you know there are some renovations that are better left on the drawing board, especially if you might be selling your house at some point in the future? Following are some renovations that may give you second thoughts:

Let’s start in the kitchen. While updates and minor renovations are certainly encouraged from time to time, beware the urge to go too high-end as you may not see an equal return in investment. And that new sunroom you’re considering? Same issue; very small return on investment potential.

Other renovations that can impact your home’s resale value include combining two bedrooms to create a larger room, and removing closets. The number of bedrooms will impact your sale price, and people love having lots of closet space. Beware renovations that turn closets into something else. Converting a bedroom into an office can also have a negative impact when it’s time to sell.

Be careful with the upgrades. Going too lavish, too bright or too quirky are not good things. If you plan to sell some day, think neutral along the way.

Also shy away from things like too much wallpaper (difficult to remove) and too much carpeting (hardwoods are always in).

Avoid the urge to turn your garage in something it’s not, such as living space. Use that space for what it’s intended — a place to safely store your vehicles, bikes, tools, yard equipment, etc.

Turning our attention outdoors, think twice about adding that swimming pool and/or hot tub due to ongoing maintenance, expenses and potential safety hazards. And don’t get too carried away with the landscaping. Trees are pretty but they can also be very messy.

Finally, unless you really know what you’re doing, stay away from do-it-yourself repairs and hire a professional who will get the job done right!

For more information and tips on what can help or hurt a real estate transaction, please contact The Olear Team today!

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