Home improvements are typically made to improve the functionality and look of a home, but renovations also can increase the value of a home. Certain changes to a home can make it more attractive to prospective buyers, while other renovations may make a home less appealing. For example, a complete overhaul of an outdated kitchen is often a smart financial move, while installing a pool or hot tub may be desirable to you it could be a negative to a potential buyer when selling your home. Separating the good investments from the bad in your renovations makes smart financial sense, and homeowners looking to improve their homes’ resale values may want to avoid the following projects.
Bedroom & Garage Conversions
Changing a room’s traditional function, more often than not, turns off buyers. For example, turning a garage into a home gym might seem like a great idea for you, but it may not be so appealing to the person looking to buy your home. Interested buyers can certainly reconvert the space, but they would consider the costs of such a conversion when making their offers on the home.
Tasting the Rainbow
Painting over unappealing colors is a home improvement project many homeowners can handle. However, some may be discouraged by a home that has too many bright colors or textures on the walls and trims. Today’s buyers often want homes that are move-in ready, meaning they can get settled in before undertaking large projects. A living room painted in purple or zebra print, though making a statement about you, may not fit the design scheme of many buyers. Dark colors do not easily disappear, and taping off and painting trim work or changing it entirely can be equally time-consuming. Stick with neutral colors when selling a home, even if this means giving rooms a new coat of paint before putting your house on the market.
Closet space is often high on buyers’ priority lists. Turning closet space into an office or removing a closet to make a room bigger may be fine for those who are staying put. But these modifications can be a turn-off to prospective buyers and can affect your listing; many states will not consider a room a “bedroom” if it doesn’t have a closet. That means one less “BR” in the description of your home.
Talk with a contractor before deciding what is best for your home. Working with a designer to renovate your home to its best ability is likely the best course plan. MH Akers is the leader in Memphis area custom home renovations and design. Learn more about MH Akers today!