Some home improvements, while seemingly appealing, can actually have the opposite effect and lower your house price, according to Joshua Houston, property expert at Household Quotes.
One example is a swimming pool. While many homeowners dream of a backyard oasis, buyers often see pools as an expensive feature to maintain. They’re only usable during warmer months, and some buyers might even be put off by the added cost of removal, potentially devaluing the property.
Similarly, cinema rooms might sound luxurious, but they can be costly to install and aren’t universally appealing. Buyers will immediately assess whether they’d use the space, and if not, it adds little value. Converting a garage into a gym might also seem appealing, but buyers searching for a home with garage space for storage could be discouraged, leading to reduced demand and a lower price.
Built-in electronics might save space, but their usefulness is subjective. Potential buyers might see them as a waste of space and cost, and removing them can be more challenging and expensive than non-built-in electronics. This added cost can easily devalue your home.
Removing a bedroom is another common mistake, especially when children move out. While it might seem logical, buyers often prefer a home with more bedrooms, so removing one can significantly lower the asking price.
When it comes to aesthetics, a brightly colored front door can be effective, but it depends on the surrounding houses and neighborhood. If your home stands out too much in a sea of traditional colors, it could be a deterrent. Buyers might be hesitant to purchase a property that requires repainting, leading to a lower asking price.
Finally, avoid making your home too personalized, especially if you plan to sell it. While pride in your home is understandable, not everything that appeals to you will appeal to others. A home that resonates with a broader audience is more likely to attract buyers and increase its value.
By considering these expert tips, you can make smart choices about home improvements that will increase your property value and help you get the best return on your investment when you decide to sell.
