Can You Hurt Your Home’s Value When Renovating?

Jun 30, 2021 | Questions, Real Estate, Sell Your House, Things To Know, Tips

If your home is in an area where houses are selling effortlessly and very quickly, you might be feeling overly confident in the worth of the house. As a result, you might consider upgrading your home to what you have been dreaming for a long time. It’s important that you…

WRITTEN BY UNITEDHOMEOFFER

If your home is in an area where houses are selling effortlessly and very quickly, you might be feeling overly confident in the worth of the house. As a result, you might consider upgrading your home to what you have been dreaming for a long time. It’s important that you are careful not to put your home’s value at risk. Maybe you want to add square footage or add a pool to your house, or perhaps you are yearning to do something because you have been watching too much real estate related content on TV.

Before applying for a home equity loan or investing the money in your account, you should think hard carefully about your financial choices. The fact that a particular upgrade appears like an excellent idea right now does not mean it will be profitable later. Additionally, you can renovate some areas of your home and find yourself regretting later, either because they were a bad idea or because you ended up overspending.

Renovations That You Might Live to Regret

Home renovators, be cautious when spending money to renovate your home as it does not usually payback, and it can even hurt your home’s value in the end. Below are some renovations that real estate experts recommend that you avoid:

1. Over-Improvements

Over-improving your home’s value tends to leave most property owners regretting their decisions. Being the most prominent or most beautiful house on a particular block does not usually pay. Homeowners often regret investing too much in a home that cannot be validated in the resale price for your area.

Some renovation projects don’t add value to your house. Some projects can assist you to enjoy your home when living there, but they might leave you wishing you had used the funds for other projects if you shift within a short time.

If you want a house that looks nicer than your current home, you should upgrade to a new home than renovating your existing home. Choosing another home that already has the upgrades you require can assist you in avoiding the stress and hassle of remodeling as well as inflation costs.

2. Textured Ceilings and Walls

It is a bad idea to add texture to the walls of your home as it is an old-fashioned trend. Adding texture to walls can hurt your home’s value – partly because it might turn off potential clients when you want to sell your house, but also because removing the texture is expensive in case you change your mind.

3. Stylish Interiors

Experts point out following trends and planning to upgrade your home based on what is currently fashionable is another mistake that can harm the value of your home. For instance, the wooden-board wall cover that is fashionable right now might not be among the future wood paneling designs. When it comes to trends, whatever is stylish now is always on its way out after some time.

4. Children-Related Improvement

Some homeowners usually invest in kids-related renovations without meditating them through. Some of the upgrades that homeowners regret generally are connected to children and their short-term periods in the home. A good example would be investing in a basketball court because your child loves basketball. The court requires maintenance and utilizes much of your backyard space. When you want to sell your home, a client might not want a basketball court in their backyard. So, before you invest in such an expensive upgrade, you must consider if there are less costly or less permanent options available.

5. Adding A Pool

It is easy to deliberate that adding a pool to your home might add fun to your life. Sure, there is nothing more relaxing than spending your day relaxing in the water with your favorite book or drink. However, the truth is that having a pool in your home does not often align with your expectations, a pool might be a great amenity during summer, but it is always expensive to maintain in the long run. It requires you to put a lot of effort, including maintenance and cleaning.

Also, you might not find a pool as enjoyable as it is right now in the next few years. Pools tend to be unused during winters, and they might become a health risk for pets and grandchildren. Indeed, a pool can increase your home insurance premiums. Additionally, only a few homebuyers will be interested in a pool in various parts of the nation. So, you might end up selling your house for a less amount than you anticipated or waiting for a buyer for a more extended period than usual.

6. Renovating Your Bedrooms For Other Purposes

With the increasing number of individuals who work remotely, it might seem like an excellent idea to turn your bedrooms into offices. However, it can result in significant financial problems if you invest a lot of resources in structuring your bedroom.

Homes that consist of more bedrooms can sell for higher selling costs and attract more buyers than rooms with fewer bedrooms. For instance, a purchaser with two kids can consider purchasing a 3-bedroom house rather than a 2-bedroom house. They could also find a house with four bedrooms to have a room for guests. Therefore, a home with more bedrooms is better when it comes to the value of your home than a house with fewer bedrooms. So, when it comes to home value, more bedrooms are better than replacing one with an office or other related businesses.

7. Converting Your Garage

Converting your garage might seem like a good idea if your home requires more living space. However, this renovation project has a lot of risks. Remodeling your garage comes with high renovation costs and various permits. Converting your garage can prevent you from getting the home value you want for your property. This is especially true if the homes in your neighborhood have a garage or your home is in an area with sweltering summers and hard winters.

Bottom Line

It is easy to contemplate that that renovating your home will always pay off. In a real sense, Upgrades are only a good idea if you plan to live in your home, but if you plan on selling your home, it is crucial that you pick renovations that appeal to the customers. Before you remodel your home using your hard-earned money, ask yourself what your objectives are. Ultimately, you might find that a home upgrade is the last thing you require.

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Best Kinds of Texas City Homes to Buy

Purchasing property in Texas has long been considered a great investment. Real estate investors from across the country stay on the lookout for Texas City Homes to Buy, and for good reason. The city has a growing population with several great areas still available for...

Best Kinds of Phoenix Arizona Homes

Best Kinds of Phoenix Arizona Homes

Phoenix is in the Northeastern region of the Sonoran desert. Winters are mild, while summers are hot due to the desert climate. It is the sixth most populated city in the US. The buyer demand for Phoenix, Arizona Homes has refused to drop in this housing market...

How to Prepare for Your Home Appraisal in 4 Steps

How to Prepare for Your Home Appraisal in 4 Steps

Before you officially sell your home to a buyer, it must pass an inspection and appraisal. But what does that mean, and how can you prepare for your home appraisal?  An appraisal is a rate established by a licensed professional determining your home’s value in...

Cost of Living in Miami, Florida

Cost of Living in Miami, Florida

Officially known as the City of Miami, it is the cultural and economic hub of South Florida. The cost of living in Miami, Florida, is 14% higher than the national average. This figure could vary between areas of the city based on median income and real estate prices....

How to Prepare your Home for a Hurricane in Florida

How to Prepare your Home for a Hurricane in Florida

Florida is notorious for its hurricanes, and damage to your home is among the most devastating ways it could hit. Although the sunshine state has been quite lucky recently, this is not enough reason to risk unpreparedness. Just one hurricane is sufficient to cause...

Outdated Home Design Trends in 2021

Outdated Home Design Trends in 2021

When selling your home, having the most up-to-date interior undeniably boosts profit. As we usher in the new year, fresh styles will replace some of our beloved but overused favorites of the recent past. To avoid a dated home that will drag down price value, make sure...

The Top 10 Neighborhoods to Buy a Home in Nevada

The Top 10 Neighborhoods to Buy a Home in Nevada

Many people are first faced with the difficult question of whether to rent or buy. If you have decided on doing the latter, then the next thing to decide is exactly where your property should be. This article will take you through the top 10 neighborhoods in Nevada. ...

How to Buy a Home During COVID

How to Buy a Home During COVID

2020 started much like any other year, and no one could have predicted the turn of events we experienced. The pandemic necessitated protocols that brought about movement restrictions to prevent disease spread. The housing market was not immune to disruption. Real...

Is It a Good Idea to Buy a Home During COVID?

Is It a Good Idea to Buy a Home During COVID?

As we know, many business sectors saw a huge disruption in business proceedings due to COVID-19 pandemic. The real estate housing sector was also hit by these disruptions, even though to a lesser extent than service providers. The decision to buy a home during COVID...

Cost of Living in Tampa, Florida

Cost of Living in Tampa, Florida

The cost of living in Tampa, Florida, is 2% lower than the state average and 5% lower than the national average. According to the Economic Policy Institute, it is much less expensive than other Florida cities. Its being cheaper than Miami and West Palm Beach does not...

How to remodel your kitchen with no budget

How to remodel your kitchen with no budget

One of the most essential areas of any property is the kitchen. It is the focal point for any buyer looking to purchase your property. Not only is this a functional space for food preparation, but it’s also a central hub for entertainment and socializing.  The kitchen...

The Cost of Living in Phoenix, Arizona

The Cost of Living in Phoenix, Arizona

Phoenix holds a reputation for being among the more affordable big cities in the US. However, in a recent study that analyzed data from the 75 biggest cities in the country, the cost of living in Phoenix came in at the middle of the pack. San Francisco, on the other...

Is it Worth it to Live in Reno, Nevada?

Is it Worth it to Live in Reno, Nevada?

Several factors contribute to Nevada’s rising popularity. These include low taxes, high average income, and year-round fun. Buyers in the market for new homes wonder if it is worth it to live in Reno. Startups also have an interest in the city and that is why we...

The Best Cities to Invest in Real Estate in 2021

The Best Cities to Invest in Real Estate in 2021

The past year was unpredictable to say the least. While the world suffered a pandemic, the housing market skyrocketed in success. There were certainly a handful of best cities to invest in real estate, though the whole country experienced a boom. How Did the 2020 Boom...

The Cost of Living in Austin, Texas

The Cost of Living in Austin, Texas

Texas is one of the country's most favorable climes for business due to an absence of state tax. Another reason for the relatively affordable cost of living in Austin is its competitive, regulatory environment. The average costs for utilities and real estate are lower...

Is It Worth It to Live in Houston, Texas

Is It Worth It to Live in Houston, Texas

It is no surprise that many people would like to live in Houston, Texas. Houston is the fourth-largest city and one of the most diverse in the United States. It appeals to people interested in space travel history, rodeo, and so much more.   Due to its booming job...

The Top 10 Neighborhoods to buy a home in Texas

The Top 10 Neighborhoods to buy a home in Texas

Are you looking forward to settling down in Texas, and you need a great neighborhood to stay? This piece promises to give you a brief insight into the neighborhoods with the best homes in Texas. If you want to change your place of residence and buy a home in Texas,...

Common words to AVOID when selling your home

Common words to AVOID when selling your home

Just as some words elevate the prospects of selling your home, some words act in the exact opposite. It is crucial to note some of these words so that you would not end up shooting yourself in the leg.  Some buyers are very sensitive to words, and once they see it in...

Common words to use when selling your home

Common words to use when selling your home

If you are familiar with Real Estate listings, you will discover that there are more pictures than words. Pictures appeal to potential buyers, and it is best if the right words accompany those pictures. Some buyers make their decisions right on the spot. And one of...

Knowing the best time to sell a house

Knowing the best time to sell a house

People have different reasons for selling their homes. For some, it could be because they want to try a new location. For others, they must have seen a better property than where they are residing. Even though it is crucial to keep in touch with seasonal trends, it is...

5 Tips to sell your home fast

5 Tips to sell your home fast

Selling your home could be stressful, particularly when selling it during an unfavorable time of the season. Getting reliable real estate wholesalers is the first and right step that should not be joked with. Although the entire process of selling should not be your...

Effective marketing tips to sell your home fast

Effective marketing tips to sell your home fast

It is crucial to put some marketing strategies in place to sell your home at the highest price possible. It even becomes effortless to market your home when you have a real estate wholesaler by your side. Real estate wholesalers are professionals who put in much work...

The Cost of Living in Dallas Fort Worth Texas

The Cost of Living in Dallas Fort Worth Texas

One of the best places to live in the world is Dallas Fort worth Texas, and the exciting part is that you do not have to break the bank when it comes to living here. When you are considering moving to Dallas, several factors need to be looked into The good part about...

5 Home-selling oversights to be careful of

5 Home-selling oversights to be careful of

Selling your home property is a very big deal, and there is a tendency to make some wrong decisions without knowing. For you to have a good selling experience, it is essential to make the right choices and be careful of home oversights that might creep in. Learning...

7 Ways to get yourself prepared before selling your home

7 Ways to get yourself prepared before selling your home

Before you make that move to sell your home, you need to be prepared to a good extent. Your level of preparation determines if you will sell your home for a good price or not. Even if it’s your first time selling your property, getting prepared properly can help you...