When Making Renovations, Remember the Goal
If you’re going to sell your home, making renovations may be a solid idea. The new features can make the property more valuable and desirable and thus increase the sale price.
But it’s important not to get carried away and make every renovation you wish you’d had a chance to make while you were living in the house. After all, you’re moving out, and so any renovations aren’t going to contribute to your comfort, enjoyment, or convenience.
The only reason to make them is to put money in your pocket. If you end up spending more than the renovations add to the sale price, or if the renovations actually turn off prospective buyers, they were counterproductive.
With that basic principle in mind, here are some renovations to avoid (or at the very least, think carefully about before proceeding.)
Renovations to Avoid
Highly Personal Renovations, Redesigns, and Room Conversions
When you’re a devoted fan of Star Wars, Kanye, or bull riding, it can be hard to remember that not everyone shares your passion. But the sad reality is that many people don’t.
That means a living room made over into the spitting image of Batman’s Batcave or the gym where Rhonda Rousey trains may not appeal to the average homebuyer. Admittedly, those are extreme if not ludicrous examples, but the point is that any renovations that would only attract a person just like you are a bad idea. You want renovations that would appeal to a broad spectrum of prospective homebuyers.
This advice applies to all the elements of décor. Don’t do up your bathroom in fluorescent pink paint and rhinestone-studded fixtures no matter how much you personally love them. Go with neutral colors and popular materials.
Putting In A Pool
Building and maintaining a pool is a big expense that may well become a net loss. While it’s true the feature will appeal to some prospective buyers, it will turn off others due to the cost involved with maintenance and upkeep. As a general rule, when selling, you should only even consider adding a pool if you live somewhere hot enough that people can go swimming nearly all year round.
In summary, always remember that when you’re selling, the purpose of renovations is to produce a return on your investment, and you should consider the likelihood of this before beginning.
True Title, Inc.