Avoid These 8 Renovations That Decrease Your Home Value
Because the housing market can fluctuate, it’s challenging to predict which renovations can increase the value of a home. When it comes to making home renovations, the goal should be to create an attractive piece of property that’s inviting to potential buyers.
With that in mind, there are specific types of renovations that should be avoided. Some upgrades will hurt property value, which makes selling the home more difficult.
Keep potential buyers in mind while outfitting a home with decorations, wallpapers, paint, and smart technology. Considering what a buyer might want in a home helps homeowners navigate their renovation process with ease.
It’s also critical to acknowledge the difference between a home renovation and a home remodel. A home renovation consists of changing or upgrading existing parts of a home, while a remodel involves completely transforming various parts of a home. Choosing to renovate versus remodel can alter budgets and determine the value of a home. However, when it comes to renovations, there are some things you should avoid. Which renovation designs can actually hurt property value?
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Renovations to Avoid
While some home renovations can make a home’s value skyrocket, others have the reverse effect. Avoid the renovations listed below to maintain value.
1. Wallpaper
Many people have specific wallpaper preferences. Some go with quirky designs or their favorite colors, while others go with more mainstream choices. While wallpaper can add a touch of flair to a home, it’s best to avoid adding it.
Wallpaper has and will likely continue to be a personal choice for homeowners. If someone plans to resell their home, buyers could be turned off by tacky wallpaper installation.
2. Carpeting
Many potential buyers are interested in hardwood floors, so installing wall-to-wall carpeting in a home will be costly and may not bode well during the selling process.
Trying to remove carpet can be laborious, and homebuyers probably won’t shell out that money when focusing on buying a home. Make sure dining areas and kitchens have another type of flooring, like tile or hardwood floors. In addition to carpets being less popular, they tend to have adverse effects on indoor air quality, lowering the value of the space.
3. DIY Projects
While do-it-yourself projects can be fun to complete, it’s easy for potential buyers to notice them right away. They tend to stick out like a sore thumb, and homebuyers may find them unappealing.
It may be tempting to take on DIY projects, but consider that not every homeowner has the same taste. Buyers may think most of the house consists of DIY projects. Leave the majority of renovations to the professionals. The risks outweigh the benefits in the case of DIY renovation projects.
4. Non-Neutral Paint
Choosing the right paint color for bedrooms, kitchens, and bathrooms can be an enjoyable part of the home renovation process. However, avoid selecting quirky colors that could turn off potential buyers. Stick to neutral colors like blue, yellow, grey, or white.
These neutral colors are more appealing to buyers and will help improve the value of the home. When using neutral paint, home buyers will be able to match their furniture selections more easily in the future.
5. Garage Conversions
Homebuyers will consider the number of garages in a home, depending on how many vehicles they own. Garage conversions became popular during the COVID-19 pandemic, as many people decided to do more home renovations and remodeling. Whether it’s a gym or a painting studio, potential buyers may not be interested in what the garage has been converted into.
Keep garages clean and empty so homebuyers can choose what they want to do with the space. It’ll likely increase home value, and homebuyers will be more inclined to purchase a home with traditional garage space.
6. Themed Bedrooms
Sticking with one theme in a bedroom may seem like a good idea at first, but potential buyers may not be interested in that particular theme. The goal is to make homes as buyer-friendly as possible, and themed bedrooms could be a significant turn-off for buyers.
Because home buyers may not share the same enthusiasm for a theme, be sure to keep bedrooms as neutral as possible to increase the appeal of the space.
7. Basement Renovations
Many homeowners will transform their basement into man caves, hangout spaces, or an extra bedroom, for example. Like many other renovations listed above, these transformations may turn off potential buyers if they want to convert the area into something else.
In addition to this, basement upgrades or renovations could be costly for the current homeowner, and they may not pay off in the long run.
8. Custom Luxuries
Wine cellars, jacuzzis, swimming pools, and hot tubs are just a few of the amenities homeowners love to add to their property. While they may serve a purpose for one family, they may not fit into the lifestyle of potential buyers. Keeping that in mind will help guide homeowners when making these types of renovations.
Instead, it could prove beneficial to add some smart home technology during renovations. More and more homeowners are interested in smart home tech that can make simple tasks more manageable.
Consider the Potential Home Buyer
Homeowners must plan and consider how potential buyers will perceive the renovations once they’re made. The goal is to create an inviting, appealing environment that homebuyers could see themselves living within in the future.
Author Bio: Emily Newton is the Editor-in-Chief of Revolutionized. She is a journalist who covers the innovations impacting the construction and industrial sectors.
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