7 renovation mistakes that will lose you money when selling your home
Then just be aware not all improvements add more than the cost to your property.
Below are the 7 most common mistakes people make when improving their home for sale.
1) TOO MUCH WALLPAPER
Too strong a design, especially textured wallpaper, can put potential purchasers off buying your home. They may feel it is too much work to remove the wallpaper or they may not have the imagination to see how they can make the property their own. If you like a certain style, then that is great, decorate the way you want to but if you are considering selling before you place your property on the market, it might be worth removing the paper and painting in neutral colours. You do not want your taste getting in the way of selling your home.
2) COMBINING BEDROOMS TO CREATE A BIGGER ROOM
One of the most important factors in determining the value of your home is the number of bedrooms it has. You need to think very carefully about the implications of knocking two bedrooms into one. If you are not intending to move, then it need not be a consideration but a property with fewer bedrooms, even if some of them have ensuite showers rooms will not be as valuable.
3) THE WRONG LANDSCAPING INVESTMENT
It is important to keep gardens well maintained to maximise “Curb appeal” when selling your home, however, expensive landscaping makeovers can cost more than they add to the value of your home. It is better to keep your garden design simple, beautiful and easy to maintain, that way it will be an asset rather than a liability.
4) HIGH END KITCHEN
If you are considering replacing your kitchen with top of the range appliances and cupboards then you must be aware that only about 60% of the cost will be added to the value of your home. By considering replacing just the cupboard doors or worktops with new ones rather than the whole kitchen you can reduce your outlay considerably. Alternatively, there are also a wide range of moderately priced kitchen designs available.
5) LARGE OUTLAYS
Making additions to your home such as conservatories, garage conversions or loft rooms can meet the needs of you and your family but they are not something you should consider doing just to enhance the sale of your property. The same applies to features such as built in aquariums or electronics and extravagant light fittings..
6) BRIGHT AND BOLD PAINT COLOURS
Vibrant colours on your walls might be off putting to some potential buyers. This can be easily remedied by either repainting the walls in lighter colours or introducing bold colours with the addition of bright cushions, throw or rugs. Therefore, when showing purchasers around your home the soft furnishings can be easily hidden away in cupboards. Buyers like to see plain colours in a property so they can imagine their own style of décor against a blank canvas.
7) HOT TUBS / SWIMMING POOLS
Unless you live somewhere that is hot at least six months out of the year, pools are generally more trouble than they are worth. When you take into account the cost of building a swimming pool and the maintenance, then it simply is not worth it for most homeowners. A hot tub takes up space and homebuyers with children might consider it a safety hazard. If a hot tub is on your list of must-haves for your home, consider a portable hot tub versus a built-in one. You could potentially take it with you when you move or your home’s new owners can easily remove it when they choose to.