When you’re preparing your home for sale, you want to focus on renovations that will increase your resale value. The renovations you do can impact how potential buyers view your home. So, as you prepare your home for sale, make sure you avoid these five renovations that can surprisingly lower your resale value.
1. Wall-to-Wall Carpeting
If your floors are in rough shape, refinishing them is a good idea for resale. A bad idea for resale value is wall-to-wall carpeting. Potential buyers will only see dollar signs and will dread having to rip up the new carpet you just laid.
Save yourself time and money by skipping wall-to-wall carpeting. While carpet might be cheaper as compared to brand new wood floors, there are better options out there. Check out these 6 flooring options for any budget for a better alternative to carpet.
2. Complete Kitchen Overhaul
Investing in your kitchen is good for resale, but there comes a point where you may do more harm than good. The best kitchen renovations that will bring you the highest return on investment are ones that spruce up but don’t completely overhaul it.
While you may love the idea of a top-of-the-line gas stove and two-door fridge, potential buyers may not. They might not even like cooking! This means that your major investment in completely overhauling your kitchen will not bring you the resale value you had hoped for.
Instead, focus on projects that give your kitchen a little spruce up. Repainting or refinishing cabinets, updating your countertops, and replacing hardware are all relatively inexpensive projects that will make a big visual impact. Stick to projects that make your kitchen look good enough for potential buyers to see themselves living in the space.
3. Unnecessary Additions
We’d all love more space in our homes, but an addition is not always the best way to get it. If you’re trying to make the most of your space, be sure to speak with a pro about the best way to maximize your layout. Home additions that seem like an afterthought won’t attract potential buyers. If anything, it could make them walk away from your home wondering why such an odd decision was made. Do not spend your money trying to expand your home when it might be the perfect size for someone else.
4. Removing Bedrooms
The number of bedrooms your home has can be a big selling feature for potential buyers. While you may love the idea of knocking down a wall and combining two bedrooms into one large room just for crafting, potential buyers probably won’t. It’s likely they’re looking for a specific number of bedrooms to accommodate their family. If you’re planning on converting a bedroom into something else, we recommend leaving it as is, especially when renovating for resale. Instead, hire a professional stager who can make all of your bedrooms look as attractive as possible to potential buyers.
5. Swimming Pool
While the daydream of being a pool owner seems lovely, the actual maintenance and costs involved can be a nightmare. We strongly recommend you do not add a pool to your home with the sole purpose of selling it. If you’re dreaming of a home with a pool, that’s great for you, and you can certainly add one to your new home. Installing a swimming pool is a big commitment and a costly project. Only take on a pool project if you’re planning on staying in your home for a long time.
The best renovations you can do when selling your home are ones that will make it look better. You do not need to completely overhaul your home and make it look perfect. Odds are that the new homeowners will want to do renovations of their own. Save your time and money by avoiding the above five renovations that will actually lower your resale value. When you’re ready to take on renovations that will increase your home’s value, be sure to connect with a verified pro on HomeStars.