One of the biggest misconceptions about home renovations is that they automatically add value to a home. Although there are some renovations that do, there are also some that do not. In fact, it is possible for a renovation to lead to a decrease in your home's value. If you are thinking of selling your home in the future, knowing which renovations could hurt your home's selling price is important. Here are just a few.
Even though flooring is considered a cosmetic feature, some buyers walk away from homes because the flooring is too trendy or quirky. To those buyers, the flooring is an expense that only adds to the repairs needed for a home.
If you are planning an upgrade of your flooring, it is important that you try to avoid trends and look for styles that will add to your home's value. For instance, hardwood flooring is one style of flooring that will likely last through the years.
A converted garage might seem like an easy way to add space to your home. Some homeowners even rent the area out to generate extra income or allow friends and family to move into it. However, buyers might not have the same view of the garage as you do.
Some buyers want a garage that they can park their cars in for security reasons. The garage is also seen as a way to avoid bad weather as they move in and out of their home. Regardless of the reason for the garage, if you convert it, the renovation could potentially work against you.
Expanding the Master Bedroom
Most buyers are looking for large master bedrooms with plenty of closet space. Unfortunately, not all homes have the desired space. If your home does not, knocking down the wall between the master bedroom and a smaller room next to it might seem like a good idea. Depending on how many rooms you have in your home, this could decrease the value to your home.
Although a large master bedroom is important to buyers with families, having enough rooms for everyone might be even more important. If you only have two or three bedrooms, leaving the master bedroom alone could be the best course of action. However, if you have four or more rooms, it should not hurt your home's value.
To evaluate whether or not renovations you are considering are harmful to your home's value, talk with your contractor. He or she knows what buyers are looking for and which renovations to avoid. For more information, contact companies like Villatoro & M. Construction Inc.