The top 6 home renovations that will decrease your property value
When it comes to home renovations, it's important to choose wisely. Some projects may seem like a good idea at the time, but can actually end up decreasing the value of your property. Here are six home renovations that you should avoid if you're looking to maintain or increase your home's value:
1. Installing a pool
Installing a pool is a big decision. They can be costly to maintain and can decrease your home's value by up to $20,000. You need to make sure you are ready for the upkeep and maintenance before you take the plunge. Here are some things to keep in mind before you install a pool.
The cost of installation and materials: This is the first thing you need to consider when installing a pool. The average cost of an inground pool is around $30,000. Above ground pools are less expensive, but they still require a lot of work to maintain.
2. Adding on a room or second story
When you're considering making changes to your home, it's important to think about how those changes will affect its resale value. You may love the idea of adding a second story or an extra room, but if you ever want to sell your home, those additions could actually make it less desirable to buyers.
Before you make any major changes to your home, be sure to do your research and consult with a real estate professional. They can help you understand how different renovations might impact the value of your home and give you some insight into what potential buyers might be looking for. With that information in hand, you can make the best decision for your family and your future.
3. Putting in new flooring that doesn't match the rest of the house
If you're considering new flooring, it's important to choose a material that will be timeless and complementary to your home's style. There are many factors to consider when making this decision, but taking the time to do your research will ensure that you end up with a product you love.
There are many different types of flooring on the market, so it's important to narrow down your options before making a final decision. Consider what type of look you're going for, how much traffic the area will get, and how easy the material is to clean. Once you've narrowed down your choices, it's time to start shopping around!
4. Removing walls or doorways
When it comes to design, there are a lot of things you can do to personalize your space. But sometimes, making changes can actually decrease the value of your home. If you're thinking about making any structural changes, be sure to consider how it will impact your home's resale value down the road. Here are a few things to avoid if you don't want to lose out on money later on.
Removing walls or doorways - again, this can make your home less desirable for other buyers down the road. If you're set on opening up your space, try working with what you have by painting doors or accent walls instead.
5. Changing the exterior of your home
When it comes to the exterior of your home, it may be tempting to want to update the facade. However, this could end up costing you more money in the long run. If you're thinking about making some changes to the outside of your house, here are a few things to keep in mind.
First, if you're planning on doing any work yourself, make sure you know what you're doing. There's nothing worse than starting a project and then realizing halfway through that you're in over your head. If you're not confident in your abilities, it's always best to hire a professional. Not only will they be able to get the job done quickly and efficiently, but they'll also be able to give you advice on what changes will actually add value to your home.
6. Making major structural changes
Making major structural changes can be very expensive and may not even be possible in some cases. Sometimes, it's best to just work with what you have. There are still plenty of ways to make your space your own without breaking the bank.
Here are a few tips for working within your existing space:
- Get creative with paint colors. A fresh coat of paint can completely transform a room.
- Play around with furniture placement. Sometimes, all you need is to rearrange your furniture to give the illusion of more space.
- Add some greenery. Plants can brighten up any room and make it feel more inviting.
Although home renovations can be a great way to improve the look and feel of your property, it's important to choose wisely. Some projects may seem like a good idea at the time, but can actually end up decreasing the value of your home. If you're looking to maintain or increase your home's value, avoid these six renovations.
Categories: Construction, Interior Design, Home Improvement, DIY | Authored by: RE DESIGN | Posted: 06/28/2022