It might be tempting to make any and every renovation to your home that you dream up, but not all home renovations add value to your home. If you care about maintaining the highest value possible for your home then you need to do research to determine which renovation projects will help your home’s value and which will hurt it. Here are some of the projects that you should avoid at all costs if you want to keep your home’s value at a premium.
Consider Your Neighborhood
- One of the most important starting points when considering a renovation is to look at the rest of your neighborhood. Believe it or not there’s value in keeping your home within the status quo of the surrounding neighborhood. Letting your house balloon in size so that it stands out in the neighborhood can actually detract from your home’s value.
- Also, you’ll want to maintain an equivalent number of bedrooms in your home compared to the rest of the neighborhood. Nothing will lose your home more value than having fewer bedrooms. It is never a good idea to remove a bedroom so that you can expand a master bedroom into a suite or a living room into a larger space. A 2-bedroom home in a 3-bedroom style neighborhood is a deal breaker for many shoppers.
Natural Home Extension
- Although your home is divided into rooms you should keep a holistic approach to your renovations and updates. It’s a red flag if one room in your home has been massively updated compared to all the other rooms in the home.
- The same can be said for adding fancy, luxury upgrades and fixtures to a home that’s not suited for them. These features end up sticking out and feeling awkward.
- It can be a real value booster to add another bedroom or even a second floor to your home, but if you choose to tackle a large project like this then you can’t cut corners and cheap out. Make sure that any large addition doesn’t hinder the flow of the original home. It should feel like a natural extension of the home, not something jammed onto the home without much thought.
Keeping your home’s value high is extremely important. Avoid these home renovations at all costs if you wish to keep your home’s value at its peak.
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