Home Renovation To Hurt Resale Value
Some Improve…Others Birth Elephants
CityLifeStyle Real Estate
We are bombarded with lifestyle programs on television, DIY videos on the internet, blogs and magazines offering endless ideas for changes to better suit your lifestyle and resale value. Increasing the beauty and functionality of your home can be an investment in your homes value without negatively inspecting resale value.
Avoid the home renovation path full of landmines that can explosively reduce your homes resale value. What you thought was a good idea can rear its ugly head and jump up and bite when you least expect it.
Bathroom Refurbish or Remodel
What to do or not to do is the question when it comes to bathrooms. Do you remodel or renovate?…both require different approaches. A few subtle changes can transform a bathroom into a sanctuary where you can retreat to relax and unwind, decompress after a stress filled hectic day.
Minor quality changes such as replacing the old outdated inefficient wasteful toilet, the ugly uninviting bathtub, the corroded faucet flaking its plating like a snake shedding its skin, to the dreary depressed looking cabinets, weary with use, years of kids hanging on the doors. The tired look often found in the bathroom is inadequate lighting. Poor or dim lighting has a negative impact on your spirit, a psychological truth, think of entering a dimly light dungeon, same primordial affect.
A new vanity along with bright, shinny new mirrors will recharge the room. Marble, granite, quartz or manufactured or engineered stone countertops or vanity tops along with a new sink give a splash of excitement.
Add a medicine cabinet, a mirrored cabinet or storage cabinet in empty space will create more dimension taking advantage of unused bathroom wall real estate.
Add a bath storage cabinet or a linen tower for more functionality.
One of the fastest ways of transforming your kitchen is installing new, modern appliances along with countertops and sinks. Marble, granite, quartz, manufactured or engineered stone increase value to the room you spend the most time in other than the bedroom.
Not only does it increase aesthetics it adds value to the space, boosting the functionality and joy of kitchen life. Opening space by removing a non bearing wall or if the latter is not an option, open the wall for kitchen port will automatically create an illusion of increased depth and vastness, wonderful open spaces.
For structurally sound cabinets, a cabinet door reface will boost the energy in the kitchen without breaking the budget. Hardware is a subtile way to transform your kitchen in a superb way. Cabinet hardware can give a “new feel” both physically and visually. A new high quality stainless steel sink (all sinks are not created equal) or designer engineered sinks with multi-wells creates kitchen intrigue and mystery, a solar system away for the oh hum, boring everyday look. Modern touch-less faucets or those designer fashion models are kitchen bliss.
Last but not least is kitchen lighting for both daytime and night time ambiance and mood. New lighting has a hypnotic dazzling affect creating varying moods with dimmers as opposed to boring now they are on and now they are off.
Smart homes are owned by smart people who love smart gadgets. Smart thermostats, light controllers, piped music to all rooms, intercoms, the list is endless. You can now control your home from your wrist watch or smartphone. You can start your car too on those frigid arctic mornings or turn up the heat on the way to the cottage for a weekend of winter fun. Potential buyers will love it. Energy savings over time will pay for itself.
The green, green grass of home is a universal wish for all home owners. A lush green carpet underfoot is a joy and the perfect way to keep the curb appeal of your home. What is the secret you ask? A high quality sprinkler system is a small but key investment. Smart automatic sprinklers keep the grounds lush and vibrant. Dead grass is a direct reflection on the home owner. What else in the house is neglected is the unspoken message. Do yourself a favour, curb appeal is next to location, location, location in the world of real estate.
The following renovations are guilty pleasures and visually appealing but don’t always increase in the value of your home.
What is the summer without the water. Pools are associated with fun and good times. The evening or early morning dip for a refreshing swim or exercise is restorative and invigorating. To your dismay the calling card for the neighbors and friends may turn out to be the fly in the ointment when it comes to selling your home. In colder climates the less than devoted sun worshipers and aqua-life perceive it as a hassle to open and close the pool, winterize procedures, ongoing maintenance and the liability of injury. We all know the fools that worry us.
Lighting is a key element to the overall look and feel of your space. However, breaking the bank on ornate fixtures and chandeliers typically means you won’t make your investment back. The next owner may choose to renovate or may not like the fixture, thereby, there is always an inherent risk in purchasing expensive light fixtures.
Remodeling Your Garage
Converting your garage into a family or play room is tempting, especially if there is ample street parking available to you. However, buyers are typically going to want the garage to be a garage. This can sometimes be a deal-breaker for buyers, coming off as a completely unnecessary renovation once they take over the residence.
Natural flooring is a popular choice among buyers. People like the feel, look and practicality of hardwood. Carpeting thereby may alienate buyers weary of having to pull up carpet and lay down or refinish flooring.
Converting a Bedroom
Turning a bedroom into a room that better fits your lifestyle may benefit you now, but could come back to hurt you when it is time to sell. Once you start customizing bedrooms, you can decrease the value of your home as the next owner may not want to spend the money renovating the room back to its original purpose.
Before you renovate be sure to weigh the impact of your renovation against your future plans. Are you looking to sell soon? Will you be planning to live here for many years to come? At the end of the day though, trust your instincts and make the renovation decisions that work best for you.