Big Mistakes: Renovations That Could Lessen Your Property’s Value
It’s a welcome move to renovate your house, but stay away from making these mistakes!
When living long enough in a home, it is usual for people to want to change it up at times. However, unless the changes you make can up the resale value of your property, it’s a waste of money. What’s even worse is that sometimes, the home renovations that you make could reduce the property’s value from what it is at the present. That would essentially mean you will be running at a loss in the real estate market. In order to avoid that, refrain yourself from making some renovation mistakes. Here are a few renovation mistakes that could reduce your property’s value.
Too Much Of Personalization Leaves No Space For Creativity
Going overboard with personalising your home while renovating would definitely decrease your property’s value. Think about it –if you were looking to buy a property or a house, would you invest in one that has too much of personalised stuff going on from the previous owner. It increases the amount of effort, money and time that you need to invest in order to take down the personalisation and do it your way. Naturally, it would decrease your property’s value since people hardly agree on buying a property that has been personalised way too much.
Built In Electronics Could Be High Maintenance For Your Buyer
Turning your home into a smart home has rapidly become a sensation in the real estate market. People renovate homes with built-in electronics such as speakers, theatre systems and other high-tech devices. These built-in electronics require high maintenance and a lot of money goes into the process. It could be that your buyer is not comfortable in spending an exorbitant amount of money behind built-in electronics that they did not want in the first place. Moreover, built-in electronics are sometimes considered a waste of space. The new buyer might not want that decreasing the property’s value.
Two Bedrooms Joined To Make A Bigger One Is A Bad Decision
Some people choose to break the wall in between and join two bedrooms into one big master bedroom. This would definitely put down your property’s resale value since most families want separate bedrooms for separate members. Even two small bedrooms are a better deal for most people than just having one large bedroom. It’s considered too much wasted and unnecessary space.