Did you know that some home improvements can actually devalue your house when you try to sell it? Not all home improvements will increase the value of your home. As a matter of fact, a house appraisal estimate can be impacted by some of the things you do. If you don’t want to lose money on your home, think twice about some of these renovations that can devalue your home if not done properly.
- Renovating the kitchen – if you are going to renovate the kitchen before you sell your home, stick with the simplest appliances and amenities. Not everyone is interested in a restaurant quality stove, and when they look at their house appraisal estimate they may think the number on it is padded to include the cost of the expensive appliances.
- Renovating the bathroom – the same rule applies to the bathroom as it did for the kitchen. Keep the renovations basic.
- Additional water features – a swimming pool, hot tub, koi pond or waterfall will devalue your home because the potential buyer will see it as extra expenses they don’t want to deal with. However, there is always the exception to the rule. But, don’t count on it.
- Square footage that has been wasted – the gym in the garage is not going to be seen as an added value unless you sell the house to a professional bodybuilder. If you have made a room in the house for a specific purpose, try to restore this wasted square footage to its original purpose before you sell.
- Cultural redecorating – it is better to restore the walls and floors to neutral colors to appeal to the widest range of buyers possible. If you plan to show your house before you move your items out, try to keep the décor low-key and neutral. This goes for laminated flooring as well. Most people would prefer solid wood so hide the laminate with some inexpensive wall-to-wall carpet before you sell.
- Illegal home improvements and DIY repairs – did you make sure you got all of the permits you needed to build that deck or expansion or to blacktop the driveway? If you didn’t you will need to fix this situation before you sell the house. You may wind up removing the improvements. Additionally, any DIY repairs that didn’t work out the way you hoped need to be fixed.