Another THREE FACTORS That Can Sabotage YOUR Plan To Boost The HOME'S VALUE!
As we shared in part one: when it comes to renovations, never expect to get 100% in return for your investments. But with the wrong home improvements, owners can unknowingly hurt their chances for a great return come listing-time. Here's how:
4. Too much yard will be lost.
Of course if you decide to add square footage, that can be a smart choice. However if it drastically shrinks your yard, it could be more difficult to sell. Our advice is to check out your neighbors' yards and compare size. If your green space will still be comparable to their's, this shouldn't be an issue for the next home owners.
5. The home has too many bedrooms.
Considering Americans are having less children, it's important the number of bedrooms stay relative to the size of families throughout the neighborhood. While it may seem like a great idea to convert a large walk-in closet into a bedroom, consider the loss of that closet could drop the value of your home instead. So do diligent research before you decide to knock out or move a wall for the sake of another room.
6. The new features are too custom.
Indulging in a little luxury like a steam room may be worth the maintenance in your eyes, but future buyers may see it as a burden (even a liability). So if you plan to add some special amenities, think through the potential risks they may cause when it is time to sell.
So remember to ensure you make a smart renovation:
- Complete it while you still have years left to enjoy the home.
- Do a comparison within your neighborhood.
- Research if it may be too personalized.
And of course if you need an expert's opinion, contact us for advice or a consultation!
Check out our blog for more tips or contact us for advice:
Windermere Metro Denver Real Estate