7 Renovation Mistakes That Can Hurt The Value Of Your Home
Among many other things, renovations are meant to add to the value of a home. However, any possible mistake may yield contrary results. This is why you have to be mindful of many things before you start the work.
Don't ignore the market demand
Before you begin the renovation, look at the market demands and trends for what the buyers are looking at in homes, if you are planning to sell it.
Don't take the walls down
Knocking down a wall to make your house appear bigger may not always be the best idea. If you want to create open spaces, consider widening the doorway into an archway or get a half-wall along with a built-in storage.
Adding a room on top
Adding a room on the upper storey is definitely a plus for your home value. But, an ill-conceived plan can actually destroy its worth. Simply adding a room with only walls can be considered as a box added on the top of the house. If you plan to build a room, make sure it is equally furnished as other rooms of the house.
Combining two bedrooms to form one
Combining two bedrooms to form a bigger one may be a good idea for couples, but is not a good move for those who have to live in that house for long or have bigger families.
Offering high-end kitchen and bathroom
Renovating and investing in a high-end kitchen and bathroom would be actually a loss for you. The resale value of these areas would be less than the actual cost you invest in. Hence, logically it is not a great idea to pitch-in so much investment considering a higher return. Moreover, buyers' taste and design sensibilities may not necessarily match yours.
Overdoing the finishes
Giving a finishing touch to a renovated home is very important. But, it is also important to consider that you don't overdo it. Bright coloured paints, textured walls and ceilings and quirky tiles may be your favourite but may not appeal the same to a prospective homebuyer.
Giving the personal touches
When you renovate your home, you may tend to get more personal in designs and décor. If your motive of renovation is solely for resale, don't invest in giving your home personal touches. New homebuyers would surely like to make some changes as per their choice.
With inputs from Shweta Talwar