Thursday, July 10, 2014

5 Things That May Reduce Your Home's Value



When we think of doing home improvements, we think of how it can benefit us directly as homeowners. A common misconception is that all upgrades or investments into a home automatically add value to the property. Unfortunately this is not always true. Here are five things to stay away from when you are doing home improvements

Room Conversions
When you have a spare bedroom or an empty garage, it may be easy to try to use that space for something that you've always wanted, like a home gym or making the garage into a bedroom or living room. Most buyers want to be able to use the space for what it was originally intended for, or at least they want to decide on their own what that space should become. If you do end up making a room conversion make sure that it is something that can be easily reversed. 

Extravagant Paint Jobs
Today's home color trends can be very bold and stylized. Many home improvements blogs and catalogues will tell you that adding a brave splash of color can give a room much needed character. We couldn't agree more, however when you are trying to sell a home, it is important to remember that your home buyer may not fully agree with your design preferences. Complicated trim jobs or wall papers are included in this. When presenting a home to a seller, keep the colors plain so they can envision what it will look like when they live there or stick to earth and neutral colors which don't present a bold statement. 

Hot Tubs
You may think that having a hot tub can be a great added bonus to someone who is purchasing a home, however your buyer may feel different. Hot tubs are not always associated with sanitation, especially if the hot tub has not been used or cleaned in sometime. In this instance it may be best to take the hot tub with you and reinstall it in your new property.

Closets
Adding closet space is always welcome, however if you are planning on removing closet space because you don't use it may not be the best idea. Closet space is always in high demand and is a priority on most people's lists. Keep this in mind when you are working on home improvement projects.

Too Much... of Everything!
We may want to keep up with the neighborhood and install the latest and greatest of well... anything! There are things like home appliances and bathrooms that should always be kept up to date. However, adding unnecessary gadgets just for the sake of adding more may not be seen as a pro but more of a con. Do your research on home improvement trends and what the majority of the neighborhood is doing so your home stays competitive in the housing market but not to the point where is no longer added value.

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