If you’re giving your home a makeover, you may be wondering what effect your upgrades will have on your ability to sell your property.
There’s a general belief that any renovations to your home will add value to your property, however that isn’t always the case.
There are some projects that you should definitely avoid if you’re hoping to make a profit from the sale of your home.
In this article we look at 10 renovation ideas that will actually decrease your home’s worth.
1. Outlandish Exteriors
No matter your personal tastes, if you want your home to maintain its value, you need to consider curb appeal.
If your home doesn’t look good from the outside, nobody is going to want to buy it. You may love the idea of painting your home bright pink, but how many potential purchasers are going to share your views?
If you opt for an exterior paint scheme that is out of keeping with your neighborhood, or that doesn’t match the style of your property, you are looking at decreasing property values.
2. Unusual Interior Decorating
It goes without saying that your home decor should be to your own tastes and personal style. However, that only works until you’re ready to sell your home.
It is unlikely that any buyers viewing your property share your passion for neon wall coverings, patterned carpets and retro wallpaper.
Research has shown that buyers want to imagine how they could put their own stamp on your home, and if they can’t see past your creative theming, you’re never going to make a sale.
If you are thinking about renovating in preparation for selling your home, go for neutral shades which are most popular with buyers.
3. Opting For The Latest Trend
Everyone wants a fashionable home, but home decor has to last. Very few people update their decorating regularly, so anyone thinking about giving their rooms a makeover should think about the long-term.
That latest home design trend may look great today, but will it look so great a few months down the line when fashions change?
Opting for the latest fad will make your home look dated really quickly and put off prospective purchasers.
Classic styles and colors never go out of fashion, so stick to neutrals for your walls and flooring, and add the latest bang on trend touches through your accessories and detailing that can easily be removed when you’re ready to sell.
4. Choosing The Wrong Kitchen Countertops
If you are renovating your kitchen, you are going to be spending a lot of money. You don’t want to make a choice of counter that is a costly mistake, so think hard about which surface you are going to select.
If you choose a surface that is difficult to clean or hard to maintain, that is going to put potential buyers off. What will put them off even more is if you choose a surface that stains easily and you have to show buyers around a kitchen with stained counters.
That’s a surefire way to lower the value of your home.
5. Making Rooms Appear Too Small
When prospective buyers are looking around a home that they hope to buy, they want to feel that the house is spacious and roomy.
When you are carrying out your renovations, think about the colors and materials that you use to open up your spaces. This is especially important in smaller rooms, where the wrong choice could make the space appear oppressive and unwelcoming.
Avoid dark colors in petite rooms and avoid using small tiles when completing renovation projects in small bathrooms. Both of these will result in an already cramped space feeling even more restricted, resulting in a lower valuation.
Opt instead for light, airy colors and larger tiles to give the illusion of space.
6. Installing A Cheap Kitchen Or Bathroom
Although it has long been thought that a newly renovated kitchen or bathroom is the best way to sell your home, you could be making a mistake if you choose the wrong one.
Sellers who are on a budget but looking for ways to increase their home’s value often decide to renovate their key rooms in a bid to maximize their profits with cheap, bottom of the range bathroom suites and kitchen units.
This is a bad idea. Buyers can spot a cheap kitchen or bathroom a mile off, and it will actually make your home less desirable, not more.
7. Removing Character Features
If you own an older period property, you may think that renovating your home to adopt a more contemporary, modern look is the best way to increase the value of your property.
You would be wrong. Prospective buyers love character in their homes. From old-fashioned fireplaces to traditional moldings, authentic features are big news and will raise your home’s price tag, not lower it.
8. Only Renovating Part Of The House
If your home hasn’t been updated in a while and you haven’t got the time or money for a complete renovation, it’s probably best not to start.
Only revamping a couple of rooms in an otherwise untouched property will look odd and will show the rest of the property in a very poor light.
9. Opting For Different Styles In Different Rooms
In general, potential purchasers want to see a home that has a complementary theme throughout. If you have a hotchpotch approach to decorating, you are going to see your home’s value decrease.
Simply put, if you have a contemporary styled kitchen, a minimalist living room and a country themed dining room, your home won’t blend well.
Buyers will see that a lot of redecorating will need to be done when they take possession of the property and will put in a lower offer.
10. Converting Your Garage
If you are thinking of renovating your garage with a view to turning it into a living space, think again.
It’s been shown that buyers prefer the idea of a place to park their car over the benefit of a play room or study.