UGANDA, Kampala | Real Muloodi News | Home renovations allow you to transform your home exactly the way you want it. But what may seem like a good idea to you, may not be the case to someone else. In fact, some renovations may even negatively affect the value of your home. Let’s us dive in to see what renovations devalue our houses.
Bright and Bold Paint Colours
Bright and bold colours may appear very appealing to you, but they can interfere with vision and often turn off your potential buyers. HGTV recommends choosing neutral colours to present to buyers with a blank canvas to help buyers envision the home in their choice of style. Repainting is an important fix when getting your home on the market, so chose your colors wisely when it comes time to sell.
An Extremely High-End Kitchen
A kitchen is regarded as the heart of a home, therefore kitchen remodeling can be a homeowner’s dream. However, renovating your kitchen can get expensive very quickly, especially if you have dreams of custom cabinets, marble counter tops and spacious islands.
High-end kitchen renovations can be an emotional investment that won’t guarantee you’ll get your money back when it’s time to sell. Often the resale value of a home with a high-end kitchen remodel, is less than the investment.
There are several ways to avoid a full kitchen renovation, such as focusing on outdated areas of the kitchen and selecting mid-range applications that will not provide a return on investment.
Combining Bedrooms to Create a Bigger Room
You may have imagined a particular room in your home being a little larger for you or your children’s comfort. Perhaps you’ve always dreamed of that giant master bedroom. However, combining rooms is a bad idea if you intend to sell or move out of that home in the future. Decreasing the number of rooms in your home is almost certain to decrease its value.
Instead of a full room lift, tricks like modern and slim furniture would help create more space in that specific room.
Did you know that the number of closets in your home can affect the value of your home? Removing a closet to make room for another upgrade, such as a larger bathroom or bedroom, can hurt your home’s resale value.
Each closet in a home, whether residential or rental, adds a small percentage to its overall value. “People need closets,” says Michele Silverman Bedell, owner of residential agency Silversons. “They’ll walk in and count the number of closets per room.”
Removing closets will only cost you.
A Swimming Pool
A swimming pool can increase the value of a home by up to 7% in certain circumstances, which is often considerably less than the money you put into it. A swimming pool renovation doesn’t not guarantee an increase in your home value. The cost of installing a swimming pool, and maintenance expenses isn’t worth it for most homeowners.
A Hot Tub
Hot tubs may appear to be very appealing and enticing, but they require space and constant maintenance. While some of your potential buyers or tenants may enjoy the idea of a hot tub, most of your potential buyers or tenants may consider it a safety hazard for their children.
When choosing a hot tub, consider a portable hot tub over a built-in hot tub because the portable hot tub can be easily removed or taken with you as you move.
A Garage-to-Gym or Living Space Conversion
Future home buyers may not agree to this renovation because it appears to be a cost-cutting measure to some. People tend to look for simple elements such as a garage for its primary purpose of housing a car or storing their belongings, rather than a gym or extra living space.
A Sunroom Addition
A sunroom could be a place to relax and enjoy the outdoors, but it is one of the worst home renovations in terms of return on investment. Before committing to a sunroom, carefully consider how often you will use it and whether you need it. It is an expensive renovation that may affect the home value when you decide to sell it.
A Built-in Aquarium
A built-in aquarium may add a modern and fancy touch to your home, but it requires constant maintenance and can be expensive when the innovation is removed. As a homeowner, choosing a standard fish tank would save you money because potential buyers or tenants would not want to care for or pay for maintenance of a permanent fish tank.
DIY “do it yourself,” projects may end up decreasing the value of your home. Think twice and be strategic when attempting to improve your home with DIY repairs, as over-personalisation may devalue your home.
READ MORE LIKE THIS:
Home Renovations Part 1: How to Cut Costs without Cutting Corners