Planning to renovate your home? Here are some common home renovation mistakes that can lower your property value.
Home renovation is a serious and expensive investment that should not be taken lightly. Many homeowners, when trying to renovate their home, tend to add too many personal items to the space. However, what you love so much about your home will not necessarily attract a potential buyer. In fact, it may even become their main source of disgust. Home renovation is supposed to increase the existing value of the home, but sometimes it can affect the resale price. Therefore, greater attention to market preferences when renovating a home becomes necessary to get a profitable business when selling.
Some common home renovation mistakes are-
When renovating a home, many may overdo it with customization. People spend way too much on renovations to make sure everything looks according to their needs. Not all customization is good and comes with a number of drawbacks that can turn off potential buyers. Whether it is paint color, flooring, lighting, carpets, etc. Sometimes over-customization can affect or reduce the value of your home.
In the case of painting a normal wall several processes like sanding, base coating, gap filling, etc. are involved. Hence, to save extra money from sanding and sealing rough walls, many people cover them with textured items such as wallpaper and textured paint. Removing texture or wallpaper can be a daunting task, and most home buyers will refrain from buying a home with an upcoming project or low price. Therefore, overdoing texture can deter buyers.
Changing rooms layout:-
Sometimes to increase area many people combine two bedrooms in order to make a master bedroom. Increasing space is not a bad thing if you are not planning to sell your house. However this decision can backfire if you are planning to sell your house in upcoming days. Most home buyers want separate bedrooms for their children or parents. If you combine two small bedrooms into one, then it can be difficult for you to find a buyer and even get a fairly low price from them.
Installing additional electronics items:-
Having an embedded electronic system is rapidly gaining popularity among the buyers. From home theater systems, Alexa, and built-in music speakers, many people are now installing high-tech built-in electronics in their homes. However, the potential buyer may not be a big fan of such electronics items, and all your renovations can be considered a waste of space. Try not to take up a lot of space in your home, but instead make sure your target customer can enjoy it. This is one of the major home renovation mistakes that most people ignores.
Doing things on your own:-
Instead of consulting a professional help, many people tend to repair or renovate their homes by themselves. DIY renovations can include changing curtains, changing direction of shelves, rearranging beds, sofas, etc. However things can go bad in case of major renovations like electrical fitting, painting, plumbing, false ceiling installations, etc. DIY major renovations can result in decidedly poor craftsmanship, resulting in lower value for the home. A little personalization work is good, but the construction and repair of a house should be left to professionals. Buyers can quickly point out poor craftsmanship, and you may have to pay extra to have it repaired or see the overall value of the home fall.
Too bright or bold Paint Colors:-
Too many bright or bold paint colors can turn off any buyers thus, resulting in no sale. It is a simple but important decision to repaint a room before putting your home up for sale. While painting, select neutral colors to give buyers a blank canvas which can assist them in visualizing the home in their own style.
There are many more home renovation mistakes, such as developing a swimming pool, renovating only the kitchen or bedroom, and installing a fancy bathroom that can reduce the cost of your house. You need to calculate and avoid over-customization when you need to renovate your home. If you are planning to sell your property in the near or distant future, be sure to avoid these mistakes when renovating your home.