Home 'Improvements' That Hurt Your Home's Value
Not all home improvements will add to a home's value. Some home improvements can actually detract from a home's value or make a home harder to sell. Knowing which home improvements can be stumbling blocks for home buyers can help homeowners make smart home upgrades.
Wallpaper has fallen out of fashion in the last several decades. No matter how attractive a home's walls, most home buyers look at wallpaper and think to themselves about how much effort they'll have to go to just to get it off. There are other ways to put patterns on walls. Homeowners who want something a little different on their walls can use stencils or creative placement of art to make their walls look more attractive.
High-End Kitchen or Bathroom Remodel
Most home buyers like the idea of buying a home with a newly remodeled kitchen or bathroom, but they won't pay extra for high-end features. A Jacuzzi tub or a gourmet stove may be waste of money, especially if return on investment is important to the homeowner.
To make the most money off of a kitchen or bathroom remodel, homeowners must keep their costs low. Working with a contractor to control the budget can help the homeowner get the most money for their investment when the home sells.
Covering Hardwood Floors
There are several different type so flooring, with hardwood being the most popular. Hardwood floor refinishing can be costly, so sometimes it's tempting to cover hardwood floors with a cheaper flooring material like carpeting. Home buyers like hardwood, however, so covering hardwood with anything will naturally detract from a home's value. Homeowners hoping to sell will get the most bang for their buck by leaving planks exposed and refinishing their hardwood.
Converting a Bedroom Into Something Else
Some East Memphis homeowners dream of turning their spare bedroom into a home office or hobby room. This is fine as long as the room retains its ability to be a bedroom. Customizations like installing shelves for a home office, or soundproofing the walls for a home recording studio, could detract from the value of the home.
For more information about which home improvements are unwise to make, talk to a real estate professional. Your real estate agent can give you suggestions that will guide you in the right direction.