Home upgrades that don’t add value guide, Home swimming design tips, Property renewal investment advice
Home Upgrades That Don’t Add Value
20 June 2022
Not every home upgrade adds value – here are a list of some of the most common ones that don’t.
Home Upgrades That Don’t Add Value List
Swimming pools have long been considered a symbol of wealth. However, it may come as a big surprise that installing a swimming pool can actually lower the value of your property. The reason behind this is the fact that the average homebuyer is often skeptical about purchasing properties with a swimming pool or other water features since they often view them as an unnecessary additional expense due to the extra maintenance required on the home.
Additionally, homebuyers with small kids may view a swimming pool as a potential safety hazard on the property. What’s more, if the swimming pool is not properly maintained, it can adversely affect the value of the property.
Granted, under the right circumstances, a swimming pool will enhance the value of your property, for instance, if you reside in a neighborhood that has plenty of swimming pools, the pool takes up just a small space of your garden, and if the style perfectly fits your home or the neighborhood. All in all, you need to carefully assess the pros and cons when thinking about a potential pool installation.
For a lot of people, the best thing about buying a home is the prospect of turning the space into our own. This includes ensuring that it meets their specific taste. With this in mind, it is crucial to ensure that you are very careful about making major changes to the home.
In case you have a property with three bedrooms and are looking to get rid of one so as to expand another or to convert it into a bathroom or another space, doing this can have a drastic effect on the value of your property.
It is important to keep in mind that properties with a higher number of bedrooms often command a higher price. When coming up with a price for a home, real estate agents will typically look at what other similar properties are selling for in the same market, as well as the number of bedrooms. Thus, this means that by eliminating a bedroom, you will be removing one critical comparing factor.
You need to keep this in mind when putting your house on the market since many people will base their search on the number of bedrooms they want. This means that if you have fewer bedrooms, they may not even get to view the property.
While taking the DIY approach has become increasingly popular among homeowners dealing with any household projects, if not done properly, it can drastically lower the value of the house. Keep in mind that even a professional renovation can have a drastic impact on the value of the house if not done correctly.
Potential buyers will be more reluctant to buy a home that they think they will spend a lot of money redoing your work. And as a result, they may have grounds to bargain for a lower price.
So, before doing any renovations, you need to think carefully about whether they are adding any value to your property. And if you choose to take the DIY approach, you need to ensure that you have the necessary knowledge and equipment to do the job properly and safely. If you choose to hire a professional, make sure to work with a trustworthy and reliable company. This includes checking review sites and seeking recommendations. Remember, poor workmanship can drastically affect the value of your property. If you want to sell a house fast, forget the renovation and get in touch.
Home Upgrades That Don’t Add Value – Pets
The last thing you want potential buyers to encounter when viewing your property are uncontrollable, smelly, and dirty pets. Keep in mind that they will be actively looking for anything that may end up costing them more to repair or update. This includes damage from chewing, scratches, as well as pet odors.
So, prior to staging your home, make sure to fix any issues related to pet damage. Perhaps the biggest issue when it comes to pet damage is pet odor. Any potential homebuyer who enters your home and is hit with the strong stench of an animal may seriously reconsider putting an offer on the property.
However, this does not mean that you should outright get rid of your furry friends. The key is to always keep on top of all damage caused by your pets and keep your pet calm to prevent such issues in the first place. Make sure to pay close attention to their hygiene and smell. Thus, you will need to bathe them regularly. You also need to ensure that you keep them out of the sight and minds of buyers when viewings are going on – so remember to also remove their toys, bed, and bowls.
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