When you are putting your home on the market, you will likely be looking for ways to make your home stand out. Everyone wants to get the most for their home and often sellers will consider updating certain property features to persuade interested buyers that their home is worth more.
Some updates, like replacing bathroom sink fixtures, fixing obvious leaks, or patching up scratches in walls are sure to add value to your home. However, there are a surprising amount of renovations that are less likely to recoup value, and are therefore projects you should avoid.
Avoid Expensive Light Fixtures: If you’re updating your home for yourself, extravagant light fixtures can be a great way to make your home your own. However, if your home will soon be someone else’s home, this is one renovation you should probably sidestep.
Avoid New Carpeting: If you need to remove old carpeting from your home, its best to replace that carpet with something other than more carpet. Laminate, hardwood, and stone are some options that most buyers find appealing. Many entry-level hardwood floors are competitive with carpeting prices, and the finished look is very sleek!
Avoid Bold Paint Colors and Wallpaper: Walls are something every interested buyer will look at. It is difficult or impossible to minimize the look of major flaws, so always make minor repairs. Painting is a good way to bring a fresh look to a space and is relatively inexpensive. Wallpaper is not ideal as it can become a bigger project than you envisioned. When painting your walls it is important to pick neutral colors. Bold paint choices may be fun for you, but there is no guarantee that the color will work for potential buyers. They need to be able to picture themselves in your home. A neutral, calming color will always work best.
Avoid Overspending on Landscape Projects: Your home’s curb appeal- or aesthetic value- is its ability to charm buyers from the outside. It is very important as first impressions can make or break a buyer’s interest. You may be tempted to overspend on landscaping. If you’re thinking of selling soon, your $10,000 (or more!) investment on lavish landscaping probably won’t pay off in the sale.
Avoid Unnecessary Yard Projects: Landscaping is one thing. Building a custom yard feature, such as a pool, is another thing. Many buyers have an aversion to properties with a private pool and prefer community pools so they can dodge the upkeep costs. If it is a feature you love, by all means build a pool! Just don’t expect to get your money back on this investment.
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