What renovations decrease property values?
Property Value Reduction Renovations
Renovations that reduce property value may appear to be the opposite of what you want, but if done incorrectly, they can actually lower your home’s potential. This blog post explains which renovations will reduce the value of your home and how to avoid them!
1. Luxurious Lighting Fixtures
Many homeowners make the mistake of renovating their homes with ostentatious and costly lighting fixtures without considering the resale value. These fixtures can often reduce the value of your home because they are not to everyone’s taste and are difficult to replace with more neutral options. If you intend to sell your home in the future, stick with classic and timeless lighting fixtures that will appeal to a broader range of buyers.
2. Excessive Wallpaper
If your home is in desperate need of a makeover, you may be tempted to redecorate every room from top to bottom. However, certain types of renovations can actually reduce the value of your home. Covering your walls with too much wallpaper is one such renovation. While a small amount of wallpaper can add interest and personality to a room, overuse will make your home appear dated and cluttered.
3. Textured Walls and Ceilings
Textured walls and ceilings turn off some homebuyers because they can be difficult to repair or cover-up. If you intend to sell your home soon, it’s best to avoid making any changes that will turn off potential buyers.
4. Inventive Tiling
One thing to avoid is over-personalizing your space with eccentricities. While unique tile can add character to a room, going overboard with pattern or color can make your home feel dated or overcrowded. It’s critical to strike a balance between incorporating personality and remaining classic and neutral.
5. Excessive Carpeting
Carpeting is one of those items that can quickly date home and make it feel out of date. Potential buyers may be put off by excessive carpeting in your home. They may regard it as something that will be costly to replace, or they may simply dislike its appearance of it. If you intend to sell your home soon, you may want to consider replacing some of the carpeting with hardwood floors or tiles.
6. Paint Colors that are Vibrant and Bold
When it comes to painting colors, neutral tones are the best choice. This will help to appeal to a broader range of potential buyers while avoiding the use of bright and bold colors. For the best results, stick to light beiges, tans, and other earthy tones.
7. Luxurious Kitchen or Bathroom
While a luxurious kitchen or bathroom can be a real selling point for potential buyers, excessive renovations can actually reduce the value of your home. If your renovation plans include adding high-end appliances or materials that are out of character for your neighborhood, you may find yourself priced out of the market.
Prospective buyers want a home that fits their budget and lifestyle, so keep that in mind when making changes to your property. Stick to modest upgrades that will appeal to the broadest range of buyers, and you’ll increase your chances of selling your home for top dollar.